8 trends behind Costa Mesa’s $149-a-night hotel business

OCRegister Finance 1 month ago

Hotel room rates in and around Costa Mesa ran higher year-to-date through May as “No Vacancy” signs were barely less common, according to fresh statistics.

Here are seven trends to know from CBRE Hotels’ latest reports on how local operators are doing filling up their rooms vs. countywide patterns year-to-date through May …

1. Costa Mesa hotel rooms on average cost $149.15 a night, an increase of 84 cents in a year or 0.6 percent.

2. Among seven Orange County regions tracked by CBRE, Costa Mesa ranked No. 5 priciest.

3. Countywide, room rates averaged $191.36 per night, up $7.14 in a year or 3.9 percent.

4. Costa Mesa hotels in 2018’s first five months were 78.6 percent full, up from 78.5 percent a year earlier.

5. Costa Mesa ranked No. 4 among seven Orange County hotel districts in terms of hardest to find an empty room.

6. Countywide occupancy was 79.5 percent, up from 79.3 percent a year earlier.

7. A key measure of hotel cash flow known as “RevPar” for Costa Mesa increased 0.6 percent from a year earlier.

8. Countywide RevPar was up 4.1 percent in a year.

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