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Hospitality and Tourism

S.C. hotel occupancy falls for 2nd consecutive month

Hospitality and Tourism
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South Carolina’s hotel occupancy rate fell 1.4% year over year in July, according to data from the S.C. Department of Parks, Recreation and Tourism, the second consecutive month that the rate has dropped.

Occupancy was at 72.9% last month, almost 1% lower than the occupancy rate across the United States. The country’s occupancy rate rose less than 1% year over year.

Travel research firm STR Inc. had predicted in last month’s state lodging report that the occupancy rate would rise in South Carolina by less than 1%.

The average room rate across the state also fell year over year, dropping 1.5% to $142.90, and revenue per available room, known as revpar, dropped by 2.9% to $104.14.

Year to date, South Carolina is seeing a 66% occupancy rate, down by less than 1% from this time last year, and a $121.53 average room rate, which is about the same. Revpar, which is $80.21 year to date, is also about the same as at this point last year.

The three-month occupancy outlook for South Carolina from STR Inc. predicts a 1.3% year-over-year decline in occupancy in August, a 2.2% increase in September and a 1.3% decrease in October.

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