Cars Land helps fill O.C. hotels, boosts rates
August 13th, 2012, 12:12 pm ? ? posted by Jon Lansner
Orange County hotels enjoyed a boost in occupancy in June as the blockbuster ?Cars Land? attraction opened at Disneyland?s California Adventure in Anaheim.
Fans wait on Buena Vista Street for the ropes to drop and Disney California Adventure to open for its grand re-opening on June 15. JOSHUA SUDOCK, THE ORANGE COUNTY REGISTER
The lodging experts at Colliers PKF report that?84.5% of Orange County hotel rooms were filled in vs. 80.0% the year earlier. In the Anaheim area, 85.9% of rooms were full in June vs. 82.3% in June 2011.
And rising room rates didn?t scare off visitors.?Orange County hotels in June saw average room rates at $157.46 per night ? that is up 7.0% in a year (or $10.28 a night.) In Anaheim,?room rates were up 5.9% in a year to $156.40.
The recent increases in rate sand occupancy are an extension of upbeat trends for the hotel business. In 2011, 73% of Orange County rooms were filled vs. 70% in 2010 and 67% in 2009. Room rates rose 5.7% in 2011 after falling 0.4% in 2010 and vs. tumbling 13% in 2009.
High-profile Disneyland improvements certainly help. The Register?s Sally Tully reports that Disneyland officials say that with Cars Land ? a three-rise attraction based on the Pixar movie ? California Adventure now draws half of the visitors who come to their Anaheim resort. Previously California Adventure drew just about 25 percent of tourism traffic, said Bob Iger, Walt Disney Co. CEO, who added: ?California Adventure is now an excellent park in its own right.?
State employment figures show the local?tourism niche adding 1,450 Orange County jobs in a year to June ? or a 4.7 percent growth rate.
Also in the PKF report on Orange County hotels trends for June:
- Speaking of pricing, latest month?s Orange County?rate of change for room rates of +7.0% compares to +4.4% for the year-to-date.
- Latest vacancy rate of 84.5% compares to 74.2% for year-to-date.
- Latest month?s year-to-year rate of change in occupancy rate of +5.6% compares to +3.5% for the year-to-date.
- All told, countywide ?Revpar? ? a key hotel cash-flow measure tracking rates and occupancy ? was up 13.0% for the latest month vs. a year ago. Revpar?s rising 8.0% year to date.
- For this latest month, the pricest rooms were in Newport Beach while North O.C. offered on average the cheapest nights.
- Fewest vacancies in the county were in Airport area while South O.C. had the emptiest hotels on average around the county.
- By Orange County geographic slice, all 7 slices of the county PKF tracks had year-over-year room rate gains; occupancy gains; and ?RevPar? increases.
Around Southern California, hotel owners enjoyed gains, too ?
- Los Angeles room rates were up 7.8% in past year to $168.25 a night. Occupancy rate for the month was 85.5% in L.A. ? up 6.3% in the past year.
- San Diego rates were up 4.3% in 12 months to $162.48 as 83.5% of San Diego area room swere filled ? up 4.3% in the past year.
Orange County hotel performance in this period, tracked by price niche, showed the upper-end hotels enjoying bigger boosts in occupancy rates:
- Rates less than $60: Occupancy ran 76.8% in June vs. 76.3% in 2011.
- $60 to $100: 65.8% vs. 65.2% in ?11.
- $101 to $150: 71.0% vs. 69.1% in ?11.
- $151 to $200: 73.9% vs. 70.0% in ?11.
- $200 or more: 72.9% vs. 63.9% in ?11.
Note: Chart below shows the month?s average room rate; year?s change in rates; occupancy (occ.) and year?s change; plus the year?s change in ?revpar? (Rev. ch.)
| Region | Rate | Year?s chg. | Year-to-date chg. | Occup. | Year?s chg. | Year-to-date chg. | Year-to-year rev. chg. |
|---|---|---|---|---|---|---|---|
| Anaheim | $156.40 | +5.9% | 4.1% | 85.9% | +4.3% | +4.6% | +10.4% |
| Costa Mesa | $118.22 | +7.1% | 2.7% | 83.6% | +4.9% | +1.0% | +12.4% |
| Airport area | $112.72 | +2.9% | 0.5% | 86.9% | +8.5% | +1.5% | +11.6% |
| North O.C. | $95.67 | +1.7% | 1.9% | 86.4% | +5.9% | +1.5% | +7.7% |
| South O.C. | $209.10 | +5.4% | 5.8% | 78.3% | +5.9% | +3.2% | +11.7% |
| Newport Beach | $231.62 | +18.8% | 8.6% | 80.3% | +5.7% | +4.2% | +25.7% |
| Surf City | $230.13 | +6.7% | 3.0% | 85.3% | +9.2% | +6.2% | +16.6% |
| All O.C. | $157.46 | +7.0% | 4.4% | 84.5% | +5.6% | +3.5% | +13.0% |
| L.A. | $168.25 | +7.8% | 3.8% | 85.5% | +6.3% | +3.5% | +7.5% |
| San Diego | $162.48 | +4.3% | 3.0% | 83.5% | +4.3% | +3.1% | +6.2% ? |
| For some real estate context ? | |
| HOUSING TRENDS | HOTEL NEWS |
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Source: http://lansner.ocregister.com/?p=165459
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