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Springfield hotel room revenue up 4%

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Queen City hotels brought in more than $66 million in room revenue this year through July, according to the latest data from the Springfield Convention & Visitors Bureau.

The figure for the first seven months of the year marked a 4.3 percent increase from $63.3 million during the same time period in 2016.

For the month of July, room revenue rose 5.2 percent to $11.2 million from $10.7 million a year earlier, according to the data provided by CVB Public Relations Manager Susan Wade.

During July, two events were key. The July 6-9 Jehovah’s Witnesses Summer Regional Convention brought in an estimated $2.3 million economic impact, while the June 27-July 2 Premier Baseball Incoming Freshman Championship created an estimated $900,000. More than 7,000 people were projected to visit the Queen City for the events, according to Springfield Business Journal archives.

Springfield hotel owners reported an occupancy increase to 66 percent through July. That’s up from 63.4 percent during the same seven-month period in 2016.

Year-to-date Springfield hotel data highlights, through July, included:
    •    room supply was down slightly to 1.2 million from 1.23 million;
    •    the average daily rate improved to $82.59 from $81.03;
    •    revenue per available room went up to $54.55 from $51.35.

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