Local Attraction At Virginia Beach|"Scottsdale Hotels See Big Growth Over The Summer"

Source              :    bizjournals.com
Category         :    Local Attraction At Virginia Beach
By                   :    Tim Gallen
Posted By      :    Hotels in Virginia Beach North Courtyard

Local Attraction At Virginia Beach

Scottsdale hotels continued their recession rebound with a summer spike in July. Occupancy at hotels and resorts in Scottsdale and Paradise Valley was 50.3 percent in July, according to travel research firm STR. That was a whopping 10.5 percent increase over July 2012. Another indicator that saw double-digit growth year over year was the region’s revenue per available room. The RevPAR shot up 16.4 percent to $49.04. The average daily rate, or ADR, also posted an increase in July. Though it did not hit double digits, it still had a strong 5.3 percent growth to settle at $97.56. Year to date, Scottsdale’s occupancy growth is much higher than the national average. Specifically, Scottsdale’s occupancy is up 4.5 percent compared to the U.S. hotel industry’s 1.5 percent year-to-date growth. In addition, Scottsdale hotels’ RevPAR is up a healthy 7 percent year to date versus the national growth rate of 5.6 percent. Scottsdale’s ADR, while positive, trails the national industry. ADR is up 2.3 percent year to date for Scottsdale hotels compared with 4 percent nationally.

Source : bizjournals.com/phoenix/news/2013/10/07/scottsdale-hotels-see-big-growth-over.html