Hotel rates, occupancy bounce back in August

After months of COVID-19-related price and occupancy suppression, hotels began bouncing back in August, according to the Rocky Mountain Lodging Report as released Monday by the Colorado Hotel and Lodging Association. Estes Park had the most full hotels last month with an occupancy rate of 70.4% and average daily price of $216.99. For comparison, in April, when COVID-19 travel restrictions were at their most strict, those figures were 7% and $132.17 respectively.  Through the summer, occupancy and pricing both trended upwards. That trend accelerated quite a bit in August.  Hotels in Boulder were 60.4% full in August. The average room rate in the city was $162.49. Fort Collins hotels posted an occupancy rate of 62.1% last month and a average daily price of $109.29. Loveland hotels were 52.6% occupied in August, a month where average rates were $97.72 per night.  In Greeley, the monthly occupancy rate was 52.0%. Hotels in the cost $81.42 per night on average. Along the U.S. Highway 36 corridor, hotels saw occupancy rates of 48.7% and daily prices that averaged $95.88 in August.  In Longmont, hotels were 44.3% full last month and travelers spent $84.84 per night on average. With the exception of Longmont and the U.S. 36 area, Northern Colorado and Boulder Valley hotels were more full than the Colorado average. Statewide, the occupancy rate was 51.1%. On average, travelers in Colorado spend $131.64 per night.  © 2020 BizWest Media LLC
Source: BizWest