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Hotel occupancy bounces back in February

Published: March 19, 2014, 11:39 am, by Wayne Heilman

Colorado Springs area hotels bounced back in February with a strong month after occupancy declined in December and January, according to the Rocky Mountain Lodging Report.

The occupancy rate for local hotels last month rose to 52.6 percent from 48 percent in February 2013, the largest percentage gain from the same month a year earlier since July 2011, when the U.S. Women’s Open golf championship in Colorado Springs sent occupancy to a 13-year high.

It’s also the second highest February occupancy rate in the past six years after February 2012 and came after declines in four of the past five months.

The average room rate in February also rose 3.1 percent for a year ago to $86.13.

The local hotel occupancy rate for the first two months of the year is up slightly to 47.8 percent from 47 percent during the same period a year ago as a result of strong gains by limited-service hotels, which boosted their occupancy rate so far this year to 45.5 percent from 42.2 percent last year. The occupancy rate for full-service hotels, which include restaurants and meeting space, fell during the same period to 49 percent from 49.5 percent a year ago.

The average room rate for all local hotels for the first two months of the year edged up 0.6 percent to $83.82.

The Broadmoor and Cheyenne Mountain Resort are not included in the totals for the Springs area, but are part of a separate category, “other resorts,” with many of the state’s ski areas. The occupancy for that category in February was 64.8 percent, while the average room rate was $272.69.

Statewide, hotel occupancy in February increased to 63.7 percent from 60 percent in February 2013 with the average room rate increasing 2.6 percent during the same period to $147.16. Hotel occupancy statewide in the first two months of the year rose to 61.8 percent from 57.2 percent during the same period in 2013.

The average room rate statewide for the first two months of the year is up 2.9 percent from a year ago to $145.27.