Resort space prices in and also around Costa Mesa ran higher year-to-date through May as “No Openings” signs were hardly less typical, according to fresh data.
Here are seven trends to understand from CBRE Hotels’ most recent records on exactly how local drivers are doing filling their areas vs. countywide patterns year-to-date with May …
… 1. Costa Mesa resort areas typically expense $149.15 a night, an increase of 84 cents in a year or 0.6 percent.
2. Among seven Orange Region regions tracked by CBRE, Costa Mesa rated No. 5 most expensive.
3. Countywide, room rates averaged $191.36 per night, up $7.14 in a year or 3.9 percent.
4. Costa Mesa hotels in 2018’s initial five months were 78.6 percent complete, up from 78.5 percent a year previously.
5. Costa Mesa ranked No. 4 among 7 Orange Area resort districts in terms of hardest to find an empty room.
6. Countywide tenancy was 79.5 percent, up from 79.3 percent a year previously.
7. A crucial procedure of hotel capital called “RevPar” for Costa Mesa increased 0.6 percent from a year earlier.
8. Countywide RevPar was up 4.1 percent in a year.