8 trends behind Newport Beach’s $290-a-night hotel business

Hotel room prices in and around Newport Coastline ran greater year-to-date via May as tenancy rose, according to fresh data.

CBRE Hotels’ most recent record exposes 8 trends to find out about exactly how neighborhood drivers are doing filling their areas vs. countywide patterns year-to-date via May …

… 1. Newport Beach hotel spaces usually price $290.31 a night, up $5.16 in Twelve Month or 1.8 percent.

2. Among seven Orange Region areas tracked by CBRE, Newport Coastline area rates were the most expensive.

3. Countywide, area rates averaged $191.36 each night, up $7.14 in a year or 3.9 percent.

4. Newport Beach hotels in 2018’s first five months were 81.6 percent full, up from 80.9 percent a year previously.

5. Newport Beach placed No. 2 amongst 7 Orange County hotel districts in regards to hardest to locate an empty room.

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6. Countywide tenancy was 79.5 percent, up from 79.3 percent a year previously.

7. A key measure of resort capital known as “RevPar” for Newport Beach enhanced 2.7 percent from a year earlier.

8. Countywide RevPar was up 4.1 percent in a year.

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  • Fairmont Newport Beach. The resort offered earlier in 2017 for$ 125 million

    . It’s been briefly branded as Fight it out Hotel Newport Beach. The 10-story resort was built in 1973 and refurbished in 2007. It offered for about$ 281,500 per room. It has 42,000 square feet of conference area, an 8,000-square-foot medical spa and also a roof swimming pool. The Balboa Bay Resort in Newport Coastline was called a new Forbes Traveling Overview four-star resort in the 60th yearly Forbes Travel Guide Star Awards.( Image thanks to the Balboa Bay Club). SoundThe gallery will certainly return to in seconds Aqua Lounge’s Happy Hour, visualized, draws a crowd on Thurs., Oct 12. Oak Grill as well as Aqua Lounge, different venues at the Island Hotel in Newport Beach,

  • have fine-tuned happy hour offeringsunder brand-new exec chef Peter Lai.( Picture by Cindy Yamanaka, Orange Region Register/SCNG). Newport’s newest hotel, Lido Home, mirrors the designer’s individual house. Show Subtitle of Expand

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