August lodging occupancy, room rates mostly higher vs. 2021

Lodging occupancy and average room rates across the Boulder Valley and Northern Colorado posted mostly healthy gains in August and so far in 2022, compared with those of the previous year, according to figures released Monday by the Colorado Hotel and Lodging Association.

Boulder posted the region’s highest average room rates in August at $247.72, at an average of 80.3% occupancy. For the year to date, those rooms were 68.1% occupied at an average rate of $194.78, well above the 55.8% and $164.55 recorded for the same period in 2021.

In contrast, Greeley posted the region’s highest occupancy rate in August – but at the lowest cost to rent a room. It cost just $105.06 a night on average to stay at a hotel, motel or other overnight accommodation in the Weld County seat last month, and those rooms were 86.6% occupied. For the year to date, Greeley rooms were 74.1% full at an average nightly rent of $100.73, compared with 68% occupancy at an average nightly rate of $95 for the same period in 2021.

Along the U.S. 36 corridor between Denver and Boulder, rooms were 74% occupied in August, at an average rate of $153.69. For the year to date, the corridor’s rooms were 65.5% full at an average nightly rate of $143.97, up sharply from 51.8% and $112.83 for the first eight months of 2021.

About 77.6% of rooms in Longmont were occupied in August, for an average nightly rate of $140.95. Year to date, Longmont has seen 67.9% occupancy at an average of $127.98 per night, up from 49.6% and $111.51 for the same period last year.

Tourism-dependent Estes Park continued its recovery from the pandemic years in August, with  77% of rooms occupied at an average nightly rate of $230.33. For the year to date, the mountain village has seen 54.8% occupancy at an average $209.51 per night, with the nightly room cost slightly up from $208.89 for the same period in 2021 but slightly below the 55.5% occupancy that year.

Loveland saw 79.2% occupancy for an average rate of $141.13 in August, the report said. For the first eight months of 2022, the Sweetheart City averaged 67.3% occupancy at an average room rate of $130.01, up from 61.2% and $120.23 for the same period in 2021.

In Fort Collins, 75.6% of lodging rooms were occupied in August at an average rate of $161.86. For the year to date, the Larimer County seat has seen 62.2% occupancy at an average of $138.82 per night, up from 57.9% and $127.27 for the same period of 2021.

Source: BizWest