Springfield hotel sales rise despite sluggish occupancies

While Queen City lodging occupancy rates have ticked down this year, room sales are on the rise, the Springfield Convention & Visitors Bureau reports.

Room sales were $9.9 million in June, a 9.5 percent increase from $9 million in the same month last year. The latest sales data brings year-to-date room buys at $49 million through June, representing a 9.6 percent bump from $44.7 million in the corresponding six-month period of 2014, according to the CVB’s August newsletter released yesterday.

The occupancy rate inched down a tenth of a point to 69.6 in June, bringing the year-to-date figure to 59.6, or three-tenths of a point lower than the same time last year.

Other hotel statistics presented by the CVB:
    •    Room supply moved up to 173,040 in June from 166,740 last year. Year-to-date room supply was roughly 1 million, about flat from last year.
    •    Room demand increased to 120,375 in June and 618,834 for the year.
    •    The average daily rate for rooms was $82.52 in June, up from $78.13 last year. The year-to-date average moved up to $79.16 from $73.95.
    •    Revenue per available room was $57.40 in June, compared to $54.42 last year. The year-to-date average is $47.21, an increase from $44.28 in 2014.