Charleston County room rates up 6.9%

Staff Report
Published Aug. 14, 2013

The average daily rate for Charleston County hotels increased nearly 7% in July, to $127.41, compared with this time last year, according to a monthly report.

Overall, Charleston County hotels had a 79.5% occupancy rate, up 1.8% from July 2012, according to Smith Travel Research data reported by the College of Charleston’s Office of Tourism Analysis and the Charleston Area Convention and Visitors Bureau.

The revenue per available room was $101.32 for July, up 9% compared with this time last year for county hotels.

Charleston County has now had year-over-year increases in average daily rate for 31 consecutive months and growth in revenue per available room for 12 consecutive months.

As a whole, the county sold approximately 10,150 more room nights in July than in July 2012.

The peninsula led all submarkets in overall average daily rate in July at $164.26, up 9.5% from last year, and in revenue per available room at $139.24, up 11.9%.

For July, peninsula hotels had occupancy of 84.7%, up 2.2% from last year.

Room nights sold
 
Charleston County
Peninsula Area
West of the Ashley
North Charleston Area
East of the Cooper

 
2012
368,081
88,245
40,297
157,873
52,284

 
2013
378,223
93,370
42,357
160,179
51,510

 
% Change
2.8%
5.8%
5.1%
1.5%
-1.5%

Occupancy
 
Charleston County
Peninsula Area
West of the Ashley
North Charleston Area
East of the Cooper

 
2012
78.0%
82.9%
82.8%
72.3%
78.5%

 
2013
79.5%
84.7%
87.1%
71.9%
81.9%

 
% Change
1.8%
2.2%
5.1%
-0.5%
4.4%

Average daily rate
 
C
harleston County
Peninsula Area
West of the Ashley
North Charleston Area
East of the Cooper

 
2012
$119.14
$150.07
$103.14
$95.68
$117.38

 
2013
$127.41
$164.26
$106.66
$97.05
$134.73

 
% Change
6.9%
9.5%
3.4%
1.4%
14.8%

Revenue per available room
 

Charleston County
Peninsula Area
West of the Ashley
North Charleston Area
East of the Cooper

 
2012
$92.99
$124.43
$85.44
$69.72
$92.21

 
2013
$101.32
$139.24
$92.90
$69.94
$110.46

 
% Change
9.0%
11.9%
8.7%
0.3%
19.8%

Source: Smith Travel Research

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