Feb
02

Charleston Hotels Close Out a Mixed 2008: Occupancy Down, But Room Rates Up

By
– Charleston Regional Business Journal

Average occupancy rates for Charleston County hotels fell 5.4% during the 12 months of 2008 compared to 2007, but the average rate charged for rooms increased 4.2%.

The year closed out with an average occupancy rate of about 48% for the month of December. That rate was down 5.8% from the hotel occupancy rate in December 2007, according to a monthly report from the College of Charleston’s Office of Tourism Analysis.

But December’s 5.8% decline was a less dramatic year-to-year drop than Charleston County hotels experienced in the preceding three months, the report noted. September and October brought double-digit declines in occupancy, 12.8% and 11% respectively. In November, the average occupancy rate was down 8.6%.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://charlestonbusiness.com/news/26349-local-hotels-close-out-a-mixed-2008-occupancy-down-but-room-rates-up
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