Continuing a trend going back to January (with the exception of April), monthly bed tax revenues for Charlotte and Sarasota counties rose again in August. More impressive for hotel operators (but less so for travelers) is the trend toward rising hotel rates.
Citing a Smith Travel Research report, Charlotte County tourism director Lorah Steiner said, “The most encouraging news was the 16 percent increase in RevPAR (revenue per room). This is probably the single most important measurement in the lodging industry, as it takes into consideration both occupancy and rate. It is an indicator of how well an accommodation can fill rooms and what rate they can command. When RevPAR increases this much it usually means there is less rate sensitivity in the marketplace.”
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