Area lodging posts gains in occupancy, room rates

Overnight lodging across the Boulder Valley in October generally showed gains in occupancy rates – and a remarkable uptick in room rental prices – over last year, according to the newest Rocky Mountain Lodging Report issued this week by the Colorado Hotel and Lodging Association.

Typical were lodgings in Boulder, which showed a 72.2% occupancy rate and $231.25 average daily room rate. For the year to date, 69.2% of rooms in Boulder have been occupied at an average nightly rate of $204.87, compared with 57.6% and $173.55 for the first 10 months of 2021.

It was the same story along the U.S. Highway 36 corridor between Boulder and Denver, where overnight accommodations posted 73.8% occupancy for an average $163.18 in October. For the year to date, they were 70.4% occupied for an average rate of $154.65, compared with 59.1% and $127.55 for the same period last year.

Greeley saw one of the state’s highest occupancy rates and least expensive room rates in October. Overnight accommodations in the Weld County seat were 80.3% occupied at an average nightly rate of just $99.44. For the year to date, rooms there were 75.7% at an average rent of $100.79, up from 69.4% and $95.98 for the same period in 2021.

Rooms in Longmont were 71.2% full in October, averaging $129.33 a night. In the first 10 months of 2022, they’ve averaged 68.9% occupancy at $128.56 a night, compared with 51.9% and $114.15 in the first 10 months of 2021.

Fort Collins saw an average 68.5% occupancy and $153.10 room rent in October. For 2022 to date, the Larimer County seat has posted an average of 64% occupancy and $141.07 nightly rate, compared with 58.9% and $130.42 from January through October 2021.

Loveland rates also showed gains. Rooms there were 71.6% full in October at an average $127.74 nightly rate. For the year to date, Loveland has seen 68.6% occupancy and a $130.19 average nightly rate, up from 62.2% and $122.06 for the same period in 2021.

Estes Park saw 65.6% occupancy through October at an average $188.25 nightly rate. For the first 10 months of 2022, lodgings in the mountain town have seen 59.2% occupancy, compared with 59% from January through October 2021. However, Estes Park showed the region’s only decline – albeit slight – in average room rates for the period, selling rooms for an average of $208.23, down 8 cents from $208.31 for the first 10 months of 2021.

Source: BizWest