Compared to last October’s 12% growth in occupancy, this October was up just .1% but average rate jumped nearly 7%, continuing an nine month trend of rising rates. 

October Occupancy was +1.1% (+3.6% for 12 months)                                             Average Rate was +6.9% to $100.71 (+4.1% CYTD to $101.65)                                  Revenue Per Available Room was +7.1%(+7.6% for 12 months)                                  Rooms Sold was + .1% in October (+2.6% for 12 months)                                             Room Revenue was +7.1% (+6.6% for 12 months)                                                           (based on 42 reporting properties)

“October and September were both up in occupancy, demand, rates and revenue in spite of growing consumer concern about the economy. And, many of our meetings properties are reporting an improving group market.” said Richard Goldman, Executive Director of the VCB.