Dec. 13–Occupancy at Sacramento-area hotels stayed above the key 70 percent threshold in October, according to the latest monthly report by the San Francisco office of hotel industry tracker/consultant PKF Consulting USA.
PKF said the average occupancy rate among area hotels in October was 71.7 percent. That was down only slightly from 71.9 percent in September and up from 69.1 percent in October last year. It also marked the seventh month out of the last eight that the rate topped 70 percent.
In the lodging industry, 70 percent occupancy is generally considered the point at which hotels can raise room rates and generate more revenue.
Through the first 10 months this year, the average occupancy rate at area hotels was 69.6 percent, up from 68.3 percent a year earlier.
The average daily room rate in the Sacramento area in October was $101.12, up from $97.35 in October 2012. Revenue per room in October was $72.50, up from $67.24 a year ago.
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