Charleston-area hotels report growth in occupancy rates, room prices

By Lauren Ratcliffe
lratcliffe@scbiznews.com
Published Jan. 9, 2013

Charleston-area hotels finished the year strong by growing occupancy rates and room rates in December, according to data released by the College of Charleston’s Office of Tourism Analysis.

Charleston County’s occupancy rate grew 2% over December 2011 to 48.3% and room rates grew 0.9% to $107.66. Room prices have grown on a year-over-year basis for 24 consecutive months, according to the report.

Among the submarkets, hotels on the peninsula were the most booked last month, with occupancy at 58.5%. East Cooper hotels had the highest vacancy, with only 38% occupancy.

For the calendar year, Charleston County hotels reported an occupancy rate of 70.5% in 2012 and an average room price of $123.40. West Ashley saw the greatest percentage increase in occupancy rate at 3.8%, while East Cooper hotels reported the largest growth in room prices with 6% growth over 2011.

December hotel data

Submarket

Peninsula
East Cooper
West Ashley
North Charleston

Charleston County

Occupancy rate

58.5%
38%
52.1%
43%

48.3%

Change from 2011

-2.4%
-5.4%
10.6%
8.2%

2%

Average room prices

$139.92
$92.66
$80.80
$86.11

$107.66

Change from 2011

14%
8.1%
13%
1.9%

0.9%

SOURCE: College of Charleston’s Office of Tourism Analysis

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