Business & Real Estate

Report: Sacramento-area hotel business warmed up in midsummer

Sacramento-area hotels continued to ring up solid numbers in July, according to the latest figures released by San Francisco-based hotel industry tracker PKF Consulting USA.

The average occupancy rate among area hotels in July was 78.1 percent, up from 75.4 percent in the same month of 2014.

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

The average daily room rate in July was $111.37, up 7 percent from $104.10 in July 2014; revenue per available room was $87, up nearly 11 percent from $78.49 in the year-ago period.

Through seven months of 2015, the occupancy rate in area hotels was 75.5 percent, compared with 73.3 percent in the first seven months of last year. The average daily room rate was $111.62, up 6.2 percent from $105.14. Revenue per available room was an average $84.25, an increase of 9.3 percent from $77.09 in 2014.

The trends reflected increases in travel and tourism reported by multiple hospitality industry trackers.

Mark Glover: 916-321-1184, @markhglover