Hotel occupancy rates fell last month to 69.9% from 70.3% in May 2021, according to data from the Rocky Mountain Lodging Report. But overall, signs of recovery have continued in Colorado Springs with hotel occupancy rates improving for the first five months of 2021.
The drop in hotel rates in May from a year earlier could be attributed to weather, gas prices and changes in education, Doug Price, president and CEO of Visit Colorado Springssaid.
“We had bad weather in May in Colorado Springs, including snow on a weekend,” Price wrote in an email to The Gazette.
Price also pointed out that gasoline prices averaging more than a dollar higher than in May 2021 were impacting travel as well as many schools resuming regularization of schooling in May, compared to 2021 when many educators were still using virtual/hybrid learning models, which offered more family travel.
But the 69.9% occupancy rate in May is still well above the 31.2% rate in May 2020, when dozens of local hotels were closed at the start of the pandemic.
The occupancy rate for the first five months of 2022 is showing signs of a prolonged recovery, rising from 54% last year to 61.9% this year.
The Lodging Report does not include The Broadmoor or Cheyenne Mountain Resort in its Colorado Springs figures; these hotels are included in a separate category for resorts.
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The average Colorado Springs hotel room rate also jumped 15.57% in May from a year ago to $138.71. The average room rate through May 2022 rose 23% from the same period a year earlier to $125.16.
Denver-area hotels outperformed Colorado Springs hotels with 72% occupancy, but ranked behind many of the state’s other smaller metro areas, including Greeley, Grand Junction and Durango. Denver hotels continue to be dominated by properties near Denver International Airport, which recorded an occupancy rate of 81.7%. So far this year, Denver’s occupancy rate has risen from 47% last year to 62.5% this year.
The average room rate for hotels in the Denver area in May was $156.20. Bedroom rages jumped 40.7% for the first five months of the year compared to 2021 with an average of $138.89 this year.
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Statewide hotel occupancy showed a similar improvement, rising from 58% in May 2021 to 66.3% this year. The occupancy rate for the first five months of the year rose from 47.8% last year to 60.6% this year. Last month, the average price of a room in Colorado jumped 32.5% from a year earlier to $157.76, while the average for the first two months of the year rose 39.9% to $175.64.
National hotel occupancy rates also rebounded in May to 68.6% this year, still down 3.5% from 2019 pre-pandemic levels, according to the research firm. the hospitality industry STR.