Renovations Keep Hotel Occupancy Numbers Flat

By on February 11, 2019 in WNDB News

Daytona Beach, FL – Hotels in Volusia County didn’t see a lot of rooms sold to end 2018 as several major chains went through renovations during that time.

The latest numbers from the Daytona Beach Convention & Visitors Bureau show 53% of available rooms sold last December, the same as it was the December prior.

“We pretty much held it in the road this past year,” says Evelyn Fine, President of Mid-Florida Marketing & Research, the company which gathered the data. “We’ve seen an increase in average daily rate and REV-PAR (revenue per available room), which makes the hoteliers happy.”

The average daily room rate rose around 3% to $99.86 in December, just over the $97.14 posted for December 2017. REV-PAR jumped up 2% during that same time to $52.47 from $51.25.

The NAIA Football Championship Game helped keep the numbers steady, according to Fine, but having several hotels re-doing large sections of their properties hurt the overall numbers, especially along State Road A1A.

“The Wyndham, which is a major property in a core area, is undergoing renovations right now of several floors,” Fine added. “The big change that took place in the area around La Playa and Bellair Shopping Center had an impact on our Thanksgiving weekend (numbers).”

December’s 53% occupancy rate matched November’s, which by itself was 5% under than the November prior and 2% less than November 2016.

Many of these properties – like the Daytona Beach Resort – are also dealing with lingering damage from hurricanes Matthew and Irma, but Fine says most of the ongoing renovations are simply due to normal wear and tear.

“The good news is that the hoteliers have the money to spend on renovation,” Fine stated. “The bad news is [that] the rooms are out of inventory.”

Fine says we might see tourists start looking away from beachside towards the Interstate 95 corridor, especially with new facilities like One Daytona’s Marriott-branded hotel opening later this year.

“This is an interesting switch for our area,” says Fine. “For years, the conventional wisdom is that everyone is coming to Daytona Beach to go to the beach. Now we’re seeing travelers that are looking for properties off the beach because they like the excitement that’s being generated on this side.”

Click here for the full December 2018 report.

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