Hotel pricing climbs as Oregon's tourism industry booms
Luke Hammill | The Oregonian, Portland, Ore. | February 19, 2016 2:44pm
Feb. 18--Pricing and occupancy rates at Portland-area hotels have soared since 2010, according to a new report from Travel Portland, which markets the city as a destination for tourists and businesspeople.
From 2010 to 2015, the average daily rate in the central city rose from about $120 to nearly $180. Revenue per available room grew by 63 percent during the same period, and occupancy rates climbed from 73.7 percent to 80.3 percent.
The news comes amid a hotel construction boom, with new inns rising all over the metro area. And high-profile projects like the Oregon Convention Center hotel are still in the pipeline.
Visitor spending grew to $4.9 billion in 2015, contributing to a 5.8 percent spike in earnings and a 2.7 percent increase in jobs in the region's tourism industry, which employs about 34,900 people, according to a Travel Portland news release.
"Portland has established itself as a one-of-a-kind destination for travelers from near and far, and steady growth in visitors annually since the recession has made a meaningful and measurable impact on our community," said Jeff Miller, president and chief executive of Travel Portland, in the news release. "By spending nearly $5 billion in the greater Portland area each year, tourists are returning home with unique experiences and memories of the city, while enabling the city -- and the state -- to reinvest in what makes our destination so special."
Oregon collected $223 million in tax revenues from the tourism industry in 2015, an 8 percent year-over-year increase. About $118 million of that total was collected in Multnomah, Washington, Clackamas and Columbia counties, according to the release. Portland's receipts from the transient room tax increased 20.7 percent year-over-year, totaling more than $25 million.
-- Luke Hammill