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Article: CITY HOTEL OCCUPANCY RATE SINKS 50%-55% LEVEL WORST FOR SEPTEMBER SINCE LATE '80S.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- October 3, 2001
CopyrightCOPYRIGHT 2001 Rocky Mountain News. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: John Rebchook News Real Estate Editor
The average hotel occupancy rate in the Denver area in September plunged to 50 percent to 55 percent, the worst September since the late 1980s, according to a preliminary report released Tuesday.
``Hotel occupancies, kind of across the board, are down 25 percent to 30 percent from where they usually are in September,'' said John Montgomery, president of Denver-based Horwath Horizon Hospitality Advisors / Montgomery & Associates.
``I would say about 90 percent of the drop is attributable to the Sept. 11 attacks,'' Montgomery said.
Montgomery, who plans to release a more comprehensive report ...