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Real Estate Buzz
 Lynn Porter Real Estate Editor |
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November 19, 2009
Real Estate Buzz: Hotel occupancy, rates continue to fall
By LYNN PORTER
Real Estate Editor
Real Estate Editor
Hotel occupancy and average daily room rates for the Seattle and Eastside areas fell in September as compared to a year earlier. Bellevue-based Wolfgang Rood Hospitality Consulting reported that occupancy decreased by 5.6 percent in downtown Seattle, 12.8 percent in Bellevue/Eastside and 6.8 percent in the Seattle/Tacoma airport area.
The average daily room rate declined 17.2 percent in downtown Seattle, to $155.64. In the Bellevue/Eastside market, it fell 12.6 percent, to $138.51, and in the airport area it dropped 14.8 percent, to $94.84.
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Previous columns:
- Real Estate Buzz -- Poll: Real estate has further to fall, 11-05-2009
- Real Estate Buzz: Apartment rents fell 2% in 3rd quarter, 10-22-2009
- Real Estate Buzz: Schnitzer drops condo prices, 10-08-2009
- Real Estate Buzz: Condo buyers here may team up to get deals, 09-10-2009
- Real Estate Buzz: Regrade towers won't start till 2010, 08-27-2009
- Real Estate Buzz: Douglas Howe: Seattle office market is ‘somewhere between dismal and disaster', 07-30-2009
- Real Estate Buzz: GVA sees 20% office vacancy in 2010, 07-16-2009
- Real Estate Buzz: Site sold at a loss — and sellers feel lucky, 06-18-2009