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Room rates and occupancy levels for Colorado hotels have showed signs of recovery from a year-long slump, according to an industry survey.
The Rocky Mountain Lodging Report, released Saturday, said the average room rate in October was $115, just under the $116 average for October 2008.
“That’s the closest we’ve come to getting back to last year’s rates,” said Christine O’Donnell, president of the Colorado Hotel and Lodging Association. “It’s too soon to say we’ve turned the corner, but it’s an encouraging sign.”
The average occupancy rate in October was 55 percent, down from 58.6 percent one year ago.
O’Donnell said the weak economy has hurt business and leisure travel for hotels.
Steve Raabe, The Denver Post
