Aspen has state's highest room rate at $447

John Rebchook, Rocky Mountain News

Published April 23, 2007 at midnight

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Hotels in the Denver-area and throughout the state saw improving room and occupancy rates in March and the first quarter, according to a report released today.

The Rocky Mountain Lodging Report, authored by hotel consultant Robert S. Benton, of Robert S. Benton & Associates, shows that the average occupancy rate in March for Denver-area stood at 66.2 percent, compared with 65.1 percent in March 2006.

For the first quarter, the occupancy rate stood at 61.8 percent compared with 60.8 percent.

The average room rate for Denver hotels in March was $140.18, a 7.9 percent increase from the $129.82 a year earlier. And the revenue per available room, or RevPar, the most important measure of the health of a hotel, rose to $94.45 from $89.41, a 5.6 percent increase. For the quarter, RevPar was $86.03, compared with $77.32, a 11.2 percent increase.

Downtown Denver had the highest average room rate in the metro area, of $148.39 and a RevPar of $110.69.

Hotels statewide showed a similar trend.

The average occupancy rate in March was 66.7 percent and the first-quarter occupancy rate was 61.8 percent, compared with 65.4 percent and 60.8 percent, respectively.

The average daily room rate in march was $140.18, compared witj $129.82 in March 2006, a 7.9 percent increase. And the average room rate for the first quarter was $139.29, compared with $127.26, a 9.4 percent increase.

RevPar for March was $93.45, a 10 percent increase from the $84.91 in March 2006. For the quarter, the average RevPar was $86.03, a 11.26 percent increase from the same period in 2006.

Statewide, Aspen boasted the highest average room rates in March at $446.95, followed by Vail at $419.27.

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