Hotels near John Wayne Airport saw space rates go higher year-to-date via May as occupancy raised, a new record shows.
Below are eight patterns to understand from CBRE Hotels’ latest reports on exactly how local drivers are doing filling out their spaces vs. countywide patterns year-to-date through May …
… 1. Airport area resorts charged an ordinary $143.93 per evening, an increase of $1.32 in a year or 0.9 percent.
2. Among seven Orange Area areas tracked by CBRE, the John Wayne market rated No. 6 most costly.
3. Countywide, space rates averaged $191.36 each night, up $7.14 in a year or 3.9 percent.
4. John Wayne market hotels in 2018’s first 5 months were 77.3 percent complete, up from 75.8 percent a year previously.
5. The flight terminal location placed No. 5 amongst seven Orange County hotel areas in terms of hardest to locate a vacant room.
6. Countywide occupancy was 79.5 percent, up from 79.3 percent a year previously.
7. A crucial step of hotel capital referred to as “RevPar” for the flight terminal area raised 2.9 percent from a year previously.
8. Countywide RevPar was up 4.1 percent in a year.
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