It’s good to be a Newport Beach Hotel owner – they are enjoying Southern California’ highest growth rate in RevPar at 17.8% year over year.
The industry benchmark known as ”RevPar” — a mix of room rates and occupancy levels. On average, Newport Beach room rates run this year at $196.78 — up 9.5% vs. 2010. And occupancy has run at 73.3% this year vs. 68.2% last year. Second in this measure of cash-flow growth among Southern California hotels are those in Beverly Hills, up 17.3% this year.
Other top performing markets in terms of RevPar, basically revenue per occupied room.:
- West Hollywood, cash-flow growth of 16.3% this year.
- Downtown Los Angeles, RevPar growth of 14.2% this year.
- Long Beach market is up 13.0% this year.
- Hollywood’s up 12.6% this year.
- Santa Monica is up 12.3% this year.
- South Orange County? Up 12.3% this year.
- The airport market in Los Angeles? Up 11.8% this year.
- Mission Bay in San Diego is up 11.2% this year.
- Huntington Beach: cash-flow growth of 10.6% this year.
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