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A blog about the economy and the Sacramento-area real estate market.

September 7, 2010
Sacramento hotels: filling more rooms than last year
Sacramento hotels are filling more rooms in 2010 than last year, hospitality industry analysts PKF Consulting USA and Colliers International reported today.
 
That's the good news. 
 
Here's the glass-is-half-empty scenario: Room rates are down from 2009.
 
New convention bookings appear to be boosting the occupancy rates announced this morning by PKF Consulting and Colliers International.  (Capital-area details, page 5-7).
  
The San Francisco analyst reported that occupancy rates from January through July in the capital region are 3.5 percent higher than the same time in 2009. In July, occupancy soared 17 percent above July 2009.
 
That's testament to new weekend gatherings this year of the Christian Congregation of Jehovah's Witnesses at the Sacramento Convention Center. The group, meeting in Sacramento for eight weekends, has booked nearly 3,000 rooms at 13 hotels in the downtown area, hotel officials say.
 
PKF and Colliers said 66.7 percent of Sacramento-area hotel rooms were occupied in July. That's up from 57 percent in July 2009. 
 
Occupancy averaged 62.2 percent from January through July, compared to 60.1 percent the same time in 2009.
 
Room rates averaged $91.52 from January through July 2010. Last year at the same time they, averaged $97.72, said PKF and Colliers.

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