Tampa Bay area hotels are leading the nation in rising occupancy rates, a new study of 25 U.S. markets shows.
For December, the Tampa-St. Petersburg market was number one in year-over-year occupancy increase, rising 11.9 percent to 59 percent over the previous year, according to recently released data from Smith Travel Research.
U.S. hotel industry occupancy moved slightly higher, up 2.7 percent to 50.2 percent, reports Margaret Cashill of the Tampa Bay Business Journal
Chicago and Denver markets came in second and third, up 10.7 and 10.4 percent respectively.
In Tampa-St. Pete, the average daily room rate (ADR) climbed 4.3 percent — reaching $91.22—while the national ADR climbed 3.9 percent to $108.77.
Average revenue for each available room (RevPAR) was $53.86 in the Bay area a leap of 16.7 percent while the overall national RevPAR rose only 6.7 percent, up to $54.65.