Business & Real Estate

Sacramento-area hotels continue hot streak

Sacramento-area hotels continued their hot streak in May, according to San Francisco-based hotel industry tracker PKF Consulting USA.

The average occupancy rate among hotels in May was 80.6 percent, up 8 percent from the same month in 2014. Area hotels also had impressive occupancy numbers in April this year, at 79 percent.

Analysts cited a cluster of major athletic events in the area in May, including the first stage of the Amgen Tour of California bike race. A strong June is likewise projected, given the presence of the men’s U.S. Senior Open golf tournament at Del Paso Country Club that month.

Through five months of 2015, the occupancy rate at Sacramento-area hotels was 74 percent, up from 71.7 percent in the year-ago period.

Hotel industry analysts consider 70 percent occupancy the point at which hotels can comfortably raise rates.

PKF said the average daily room rate in the area in May was $110.18, a 7.4 percent gain over May 2014. Average revenue per available room in May was $88.86, up 16 percent from $76.63 in 2014.