A study released last week by hotel industry tracking firm PKF Consulting held good news for Downtown's largest hoteliers. From January 2004 to January 2005, hotels that charge more than $105 a night experienced a 25.2% increase in average occupancy, according to the report. It's overwhelmingly the largest in L.A. County, which saw a 4.3% boost overall. The second biggest was Beverly Hill's 9.3% increase. However, hotels charging less than $105 a night saw a 1.5% occupancy drop, ranking third from last in the study of 16 districts. The less expensive Downtown hotels also registered the largest losses in terms of average room rates year to year, dropping 3%. The average room rate for the larger hotels was $125.68, up 4.5% over the previous year.
page 2, 3/21/2005
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