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Hotel occupancy ticks up in much of state in May

Seasonal trends have taken hold of the hospitality industry with hotel occupancy following the typical pattern for May.

Resort communities are seeing occupancy levels dip into the 30% range while the rest of the state has started to see occupancy tick up.

That’s according to the most recent report from the Rocky Mountain Lodging Report, issued by Colorado Hotel and Lodging Association. 

Statewide, hotel occupancy was up from 66.3% in May 2022 to 68.2% this year. The May average daily rate statewide was $164.32, compared with $157.76 a year ago.

For the most part, communities in the Boulder Valley and Northern Colorado followed those trends.

Boulder’s occupancy rate was 69%, up from 61.5% a year ago with the average daily rate moving from $168.48 a year ago May to $239.65 this year.

The U.S. Highway 36 Corridor saw an occupancy rate of 69.7%, up from 57.7% a year ago. The average daily rate was $152.10 this year versus $132.71 a year ago in May.

Estes Park’s summer season has begun, with its occupancy at 49.7% in May, versus 37.2% a year ago. Average daily rate was $171.85 this year versus $157.09 last year.

Longmont topped the local charts this May with 77.1% of its hotel rooms filled compared with 61.2% last year. The average daily rate was $135.68 this May compared with $109.97 a year ago.

Fort Collins filled 70.1% of its rooms at a rate of $160. Last year, it filled just 53.5% of its rooms at a rate of $121.49.

Loveland sold 68.5% of its rooms during May at an average rate of $139.91. Last year, 61.2% of the rooms were filled at a rate of $117.04.

Greeley, which for many months has had the highest occupancy in the region, dropped below Longmont in May but still exceeded most other communities with 75.6% occupancy at a rate of $110.77. That compares with 67.8% in May 2022 at a rate of $92.95.

Source: BizWest