L.A. County hotels continued to see an increase in occupancy and revenue per available room in May, but the average daily room rate declined.
Hospitality consulting firm Colliers PKF Consulting USA released statistics Thursday for occupancy rates, average daily room rates and revenue per available room for May.
The occupancy rate for L.A. County hotels was 71 percent in May, up from 67 percent the same month last year. Revenue per available room was $97.48 in May, up from $93.03 the same month last year.
As the hospitality industry begins to recover from the recession, Colliers PKF executive Robert Mandelbaum expects occupancy rates and revenue per available room to continue to rise.
Mandelbaum wrote in Colliers PKF’s most recent report that occupancy rates are projected to recover first, but cautioned that average daily room rates will remain lower than last year’s rates.
The average room rate was $137.35 in May, down from $139.38 the same month last year.
Mandelbaum wrote that the hotel industry is expected to see an overall decline in net income this year because hotels are dealing with lowered average daily room rates, while rising guest counts are forcing operators to increase expenses related to services, amenities and staff members.
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