Colorado Springs hotels continue recovery from pandemic in October | Subscriber-Only Content

Colorado Springs hotels continued a gradual recovery in October from the COVID-19 pandemic, but are still well below the booming occupancy levels reached before the outbreak.

Occupancy rates at local hotels averaged 68.6% last month, up from 63.9% a year earlier, but behind the 73.1% occupancy rate reached in October 2019, before the pandemic hit the state, according to a Rocky Mountain Lodging report. Colorado Springs hotels sold nearly two-thirds of their rooms – 65.9% – in the first 10 months of the year. This is a significant improvement from 51.9% over the same period last year, but is down about 11 percentage points from the same 10-month period in 2019.

“The industry hasn’t fully recovered yet, especially when comparing the numbers to 2019. We’re not there yet,” said Doug Price, CEO of Visit Colorado Springs. “Vaccinations and boosters have given people confidence to travel and stay in hotels, but there are still companies and organizations that impose travel restrictions. Until that changes, you won’t see a full recovery.”

Colorado Springs hotel market ranked second in the United States

The industrial recovery in Colorado Springs is still ahead of most other cities. Hotel occupancy rates in Colorado Springs ranked 12th in the country out of 165 cities and regions tracked by hotel research firm STR. The company uses different criteria to measure local occupancy than the Rocky Mountain report, which does not include The Broadmoor or Cheyenne Mountain Resort in Colorado Springs hotels; These hotels are listed in a separate category of resorts.

A Rocky Mountain report found that the average room rate at local hotels in October rose 30.5% from a year ago and 16.8% from October 2019 to $131.69. Average prices for the first 10 months of the year jumped 28.3% from the same period last year and 9% from the same period in 2019 to $133.76.

Colorado Springs hotels continue their strong summer performance

Occupancy in Denver improved to 66.1% in October from 46.7% a year earlier, one of the strongest recoveries in Colorado, led by hotels near Denver International Airport. Occupancy in the Denver area during the first ten months of the year was 59.1%, up from 43.5% during the same period last year. The average room rate in Denver hotels last month was up 55% from a year ago to $147.16, and in the first 10 months of the year it was up 18.5% to $127.55.

Statewide, hotel occupancy rose to 63.1% in October from 50.5% a year earlier, and in the first 10 months of the year it rose to 59% from 46.1% a year earlier. The average room rate in Colorado during October was $154.10, an increase of nearly 40% from the previous year, and the average room rate in the first 10 months of the year was up 13.8% to $153.54.

Hotel occupancy rate nationwide was 62.9% in October, a significant rebound from 48.3% last year, but still 8.8 percentage points behind October 2019, according to data compiled by STR. The average room rate jumped 38.8% over the same period to $134.78 and was 1.2% above the average room rate in October 2019.


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