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Occupancy Rates

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BUSINESS
August 30, 2012 | By Hugo Martín, Los Angeles Times
Hotels in Los Angeles County enjoyed record occupancy rates in July thanks to surging numbers of foreign and domestic tourists, as well as growing convention and conference visitors. An average of 83.9% of all rooms were occupied in July, the highest rate for any month in the last 25 years, according to the Los Angeles Tourism & Convention Board. The record rate marks the seventh straight month of year-over-year increases and represents the latest indication that tourism - one of the region's biggest industries - has rebounded from the economic downturn.
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BUSINESS
December 9, 2012 | By Hugo Martin
Hotel owners have long touted the importance of positive online reviews, and now a new study calculates how much they mean to a hotel's bottom line. For every 1% increase in a hotel's online reputation score, a hotel enjoys a 0.54% increase in occupancy, which can lead to a 1.42% increase in revenue per available room, according to an analysis by the Center for Hospitality Research at Cornell University. The study, by Cornell professor Chris Anderson, looked at data from more than 3,000 hotels in 20 cities, including several international locations.
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BUSINESS
July 23, 1990 | United Press International
Office occupancy rates in the United States and Canada have fallen to 81.8% at mid-year from 83.1% a year ago, a building owners association said today. The mid-year survey by the Building Owners and Managers Assn. International also showed an increase in suburban occupancy rates, apparently at the expense of downtown office markets. The association's North American office market review reported an 0.9% decline in downtown occupancy rates to 84.9%, while suburban occupancy rates gained 0.
BUSINESS
August 30, 2012 | By Hugo Martín, Los Angeles Times
Hotels in Los Angeles County enjoyed record occupancy rates in July thanks to surging numbers of foreign and domestic tourists, as well as growing convention and conference visitors. An average of 83.9% of all rooms were occupied in July, the highest rate for any month in the last 25 years, according to the Los Angeles Tourism & Convention Board. The record rate marks the seventh straight month of year-over-year increases and represents the latest indication that tourism - one of the region's biggest industries - has rebounded from the economic downturn.
BUSINESS
November 18, 1985 | ROBERT HANLEY, Times Staff Writer
California--which currently leads the nation in hotel occupancy rates--is likely to lose that edge as a hotel building boom continues, according to a study scheduled to be released next week. Hotels in the state were 69% full in 1984, and even though an estimated 14,600 new rooms will open throughout the state, the rate will stay about the same this year, according to the report by Pannell Kerr Forster, a Los Angeles accounting firm that specializes in the hospitality industry.
BUSINESS
January 10, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
Orange County hotels received a double dose of good news in November as occupancy rates and average room prices both rose compared to a year earlier, according to figures released Thursday. Overall, the average occupancy rate in the county was 57.1%, up slightly from 56.7% in November, 1990. The average nightly room rate at county hotels was $73.26, up 4.3% from $70.20 the previous year, according to the accounting firm of Pannell Kerr Forster in Irvine.
BUSINESS
December 10, 1987 | MICHAEL FLAGG
Yes, there is room at the inn. Hotels in the Anaheim area had the highest occupancy levels in the county through the third quarter of the year, at 77.3%. But in the John Wayne Airport area and Newport Beach only 66.5% of the hotel rooms were occupied this year. That's according to Pannell Kerr Forster, an accounting firm and hotel consultant with an office in Newport Beach. The company also looked at hotels in the north Orange County area, which ran a 70.
BUSINESS
April 2, 1991 | LESLIE BERKMAN, TIMES STAFF WRITER
Comprehensive Care Corp., the once highly profitable chain of alcohol and drug treatment centers that has fallen on hard times, has closed a 103-bed hospital in Orange because of low occupancy rates. The closing of CareUnit Hospital of Orange last month follows the sale of CompCare's psychiatric hospital in Brea last year to Community Psychiatric Centers, a Laguna Hills-based psychiatric hospital chain. CompCare moved its corporate headquarters from Irvine to St. Louis in 1989.
BUSINESS
August 2, 1994 | Chris Woodyard Times staff writer
Orange County's hotel industry staged an impressive recovery in May compared to the same month last year and it could prove to be a good omen for summer. Overall, hotel occupancy increased to 66.7% in May, the latest occupancy figures available, up 5.1% over 63.5% during the same month last year, according a monthly tally compiled by the Los Angeles firm PKF Consulting. Daily room rates increased a healthy 3.2% to an average of $78.40.
BUSINESS
June 14, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
Hotel occupancy rates decreased nearly 5% in Orange County in the first four months of the year, and the market probably isn't going to get much better this year. A recent survey by Pannell Kerr Forster, a hotel consultant, found that occupancy rates in Orange County's big hotels dropped from 67.4% in the January-to-April period of 1989 to 64.2% for the same period this year.
CALIFORNIA | LOCAL
June 12, 2012 | By David Zahniser, Los Angeles Times
Despite claims by business leaders that downtown's hotel market is coming back strong, the developer of a proposed 23-story Marriott tower next to L.A. Live is in line to get up to $67.3 million out of City Hall over the next 25 years. Williams/Dame & Associates and its partner, American Life Inc., would receive permission to keep up to half of the sales taxes, business taxes, room taxes, utility taxes, property taxes and parking taxes generated by their 392-room project once it opens, according to the proposal.
BUSINESS
October 16, 2011 | By Roger Vincent, Los Angeles Times
It was another stale quarter for most Southern California office landlords as rents and occupancy remained stalled at low levels, except in neighborhoods favored by technology and digital media companies. The soft market was a boon for tenants willing to sign leases. But few companies are finding the need to expand their quarters with the economy tepid and hiring at a standstill. Business bosses "have gone on a personnel diet," said Jim Kruse of CBRE Group Inc., the real estate brokerage formerly known as CB Richard Ellis.
TRAVEL
December 5, 2010 | By Jay Jones, Special to the Los Angeles Times
Trying to promote a Vegas hotel? That's heavy, man. Or more correctly, the Heavy ? a British rock band whose TV commercial featuring Aria, the 4,004-room anchor hotel at CityCenter ? is coming soon to a TV screen near you. "It's a high-energy, fun commercial that we think accurately displays the excitement of Aria," said Jim Murren, chief executive of parent company MGM Resorts International. Here's what's behind the commercial: Fewer than half of Southern Californians ?
BUSINESS
May 18, 2010 | By Hugo Martín, Los Angeles Times
The "staycation" is so last year. Americans who plan to vacation this summer will spend more money and stay away longer than last year, when staying home was more the norm, according to a new survey released Monday. Although the percentage of Americans who will travel this summer has remained about the same (51%), of those who will hit the road, 67% will spend more money than they did a year earlier and 74% will take the same length of vacation or longer, according to a survey of 2,000 Americans commissioned by American Express Co. The survey findings, along with improving hotel occupancy rates and rising demand for airline seats, suggest Americans are loosening their purse strings somewhat on vacation spending, in contrast to the penny-pinching habits of travelers during the economic slump of the last year and a half.
BUSINESS
October 21, 2009 | Hugo Martin
While hotels across the country continue to struggle with slumping occupancy rates and sliding revenue, industry data released Tuesday show signs of improvement in several regions, including Southern California. The hotel occupancy rate nationwide dropped 5.4 percentage points to 59.8% in the first week of October, compared with the same period last year, while revenue per available room fell 12% to $59.28, according to Smith Travel Research Global, an industry research firm. The numbers are the latest in a series of reports chronicling one of the worst slumps in decades for the hotel industry.
BUSINESS
April 8, 2009 | Hugo Martin
Hawaii has suffered one of the worst winters for tourism in recent years and has appealed to the state's most famous native son -- President Obama -- to help turn its fortunes around. Hotel occupancy rates in the winter were the lowest in at least five years, and in February -- traditionally the state's busiest month -- the rate dropped to 75%. That was the lowest level since 1991, during the Persian Gulf War, when it fell to 69.7%, according to Smith Travel Research.
BUSINESS
January 15, 1991 | CHRIS WOODYARD, TIMES STAFF WRITER
Orange County hotels filled an average of 56.6% of their rooms in November, down from 59.9% in November, 1989, according to a recent report by the accounting firm Pannell Kerr Forster in Irvine. Average room rates increased 1.9% to $71.67 in November, up from $70.32 a year earlier. "I think it's a pretty obvious concern relative to the economy," Rick Schwartz, the firm's manager of consulting, said Monday. "It will be curious to see what (December figures) look like."
CALIFORNIA | LOCAL
September 3, 1991 | JULIO MORAN, TIMES STAFF WRITER
For the last four years, Cal State Northridge officials have been rushing to build new campus housing facilities to meet a growing demand. But now, with the number of available spaces increased fivefold, many of the beds remain empty. After years of occupancy rates topping 90%, the rate dropped this fall to about 75%.
BUSINESS
July 19, 2007 | Annette Haddad, Times Staff Writer
When Riverside County landlord Eloise Figueroa learned that her tenant was about to move out of her four-bedroom home in Perris and into a lower-priced rental house, she sprang into action. "I said, 'Where are you going? What are you paying? OK. That's your new rent,' " said Figueroa, who agreed to cut her renter's $3,000 monthly lease by $150 to keep him.
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