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Report: Hotel revenue up, occupancy down statewide for February

Staff Report //April 2, 2018//

Report: Hotel revenue up, occupancy down statewide for February

Staff Report //April 2, 2018//

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Tourism figures in South Carolina are mixed for the coming months, according to the latest report from the S.C. Department of Parks, Recreation and Tourism.

In the department’s monthly snapshot of tourism indicators, statewide hotel revpar (revenue per available room) was just more than $55 for February, up by 1.2% compared with January. Revpar is performance metric that is calculated by multiplying a hotel’s average daily room rate by its occupancy rate.

The report forecast an occupancy rate of 72% in April, down 3% from last year, and 66.6% for May, down 1.4%. STR Inc., which tracks supply and demand data in the hotel industry, predicts June to move upward, with an occupancy rate of 77%, a 1.3% increase from last year.

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