Hotel figures.After a strong January, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County hotels continued to see room rates increases in February, while the average occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) reversed course, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. data released by hospitality consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a PKF PKF Peace Keeping Force PKF Pannell Kerr Foster (accounting firm) PKF Park Falls, Wisconsin (Airport Code) Consulting. Across the county, the average occupancy rate was 78.6 percent, down from 79.1 percent from the same period last year. In January, the average occupancy rate clocked in at 76 percent, up from 73.6 last year. West Hollywood hotels had the highest February occupancy rate, at 84.4 percent. After a topping other county hotels in January, hotels in the airport area Stayed full with an 84.2 percent occupancy rate. Hollywood hotels followed closely at 81.3 percent. Countywide, the average amount for a night stay increased to slightly under $145 in February, compared to $135 for the same month last year. In January, guests paid, on average, $142. Beverly Hills hotels remained the most expensive in February, with a nearly $371 average daily room rate. No other area came close to those pricey rooms, although rooms in Santa Monica and other West L.A. locations did go for around $250 in February. Meanwhile, the Los Angeles County hotel market last year was cool compared to the blazing California market in which the hotel sales volume hit a record high, according to data released by Atlas Hospitality Group. Locally, hotel sales increased 4.2 percent to 75, while the dollar volume was up over 61 percent to slightly more than $1.5 billion. In the state, the sales volume was up over 105 percent to 367, with the dollar volume topping $4.5 billion. The largest hotel to sell last year in Los Angeles County was the 1,011-room Marriott Los Angeles Airport, while the most expensive hotel was the 728-room Century Plaza Hotel The Century Plaza Hotel in Los Angeles is a landmark 19-story luxury hotel forming a sweeping crescent design fronting the spectacular fountains on Avenue of the Stars adjacent to the twin Century Plaza Towers. & Tower, which fetched $293 million. Staff reporter Rachel Brown can be reached at (323) 549-5225, ext. 224, or at rbrown@labusinessjournal.com. |
|
||||||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion