Hotel Industry Experiences Strong 2004

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Los Angeles County hotels saw a 7.5 percent increase in 2004 occupancy rates from a year earlier, as the industry continued to show signs of recovery from a slump following the 2001 terrorist attacks.


Occupancy rates reached 74.8 percent, and average daily room rates that rose 5.6 percent, to $119.61, according to data released today by PKF Consulting.


All of the regions surveyed saw occupancy rates rise anywhere from 1.4 percent to 18.2 percent. Downtown hotels saw the largest jump in occupancy, reaching 60.3 percent from 51 percent, followed by Hollywood hotels at 74.8 percent, up from 66.8 percent a year earlier, and West L.A. hotels, at 73.8 percent from 66.5 percent.


The areas where occupancy rates were the highest include airport hotels, which were 79.7 percent occupied, hotels along the I-5 Corridor/Whittier area (79.3 percent), and Pasadena hotels (79 percent).


Room rates for all of the regions increased anywhere from 0.1 percent to 10.7 percent. Beverly Hills hotels posted the largest gains in average daily room rates, rising 10.7 percent, to $276.14, the highest in L.A. County. Santa Monica hotels saw a 9.4 percent increase, to $207.83, the second-highest in the county.

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