Queen City lodging industry posts increases, but supply dips

The Springfield lodging industry continued its growth trend in July, particularly for room demand and occupancy, according to the Springfield Convention & Visitors Bureau’s latest tourism report. 

Room demand – the number of rooms rented in the city – was 129,677 in July, a 2.2 percent increase compared with 126,875 a year earlier. The latest total brings January-July room demand to 781,663, up 4.7 percent from the same time in 2015.

Springfield’s July occupancy rate – the number of available rooms divided by rooms sold – grew to 74.1 percent from 70.5 percent in the same month of 2015. That represents a 5 percent increase. Through seven months this year, occupancy came to 63.4 percent, compared with 61.2 percent in the same period last year, according to the CVB.

Springfield’s latest lodging industry data highlights:

• Room supply dipped to 175,057 in July from 179,975 a year earlier. Through July, year-to-date room supply was 1.23 million, up slightly from 1.22 million a year ago. 

• The average daily rate moved up to $82.37 in July from $82 a year earlier, and the year-to-date figure increased to $81.03 from $79.65.

• Room sales in July rose nearly 3 percent to $10.7 million from $10.4 million. Year-to-date room sales through July grew 6.5 percent to $63.4 million. 

Also in July, according to the CVB, traffic at Springfield-Branson National Airport moved up 4.6 percent to 98,112. Through July, that brings total enplanements and deplanements to 534,517, a 2.5 percent increase.