From Research: Hotels Post Strong Monthly, Year-End Numbers

Orlando's occupancy rate averaged 78.6 percent in December, up 8.6 percent from the previous year -- the highest December occupancy rate on record. The average daily rate rose 8.4 percent to a record $129.50, and RevPAR soared 17.7 percent. December's strong performance capped a record-setting year for Orlando's lodging market, with all-time highs for average daily rate ($121.53), revenue per available room ($96.40) and room nights sold (34.7 million). The annual occupancy rate of 79.3 percent was the second highest since 1979.

In addition, the Orlando market posted stronger growth across all key metrics in 2017 than state and national averages. And when compared to STR's 25 largest lodging markets, Orlando posted the second-fastest growth in occupancy (4.9%), average daily rate (4.8%) and revenue per available room (10%).

 

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