CVB: Springfield hotel room revenue rises 7% to start year

Room revenue grew at the start of the year for Springfield's hotel industry.

The Springfield Convention & Visitors Bureau's latest data show year-to-date room revenue through February, which includes January, was up 7%. The total for February and January was $16.6 million, up from $15.5 million in the first two months of 2022, according to CVB officials.

While occupancy was down 3.2% to 47.9% in January and February, CVB officials cited an average daily rate increase of 8.4% to $92.97 for the increase in room revenue.

During 2022, room revenue rose 10.6% to $142.5 million compared with 2021, according to past Springfield Business Journal reporting. Occupancy last year dipped 1.7% to 63.6%.