Tuesday, October 9, 2012, 11:01am
Hotels in the Cape Cod area, including Martha’s Vineyard and Nantucket Island) hotels reported strong occupancy and revenue gains in August, according to PKF Boston, a hospitality consulting firm.
The 17 hotel operators in the Cape Cod area achieved average 88 percent occupancy at a $409.07 average daily rate (ADR), with a resulting $359.09 revenue per available room (RevPAR). The performance levels represented an occupancy gain of 7.5 percent, a 5.4 percent increase in ADR, and an overall 13.2 percent rise in RevPAR for August, compared with the same month last year, PKF said.
Greater Boston area hotels also reported strong operating results for August. The 92 hotel operators in the PKF sample for the greater Boston area achieved an average 86 percent occupancy at a $181.52 ADR, with a resulting $155.72 RevPAR. These performance levels represented an occupancy gain of 1.5 percent, a 4.7 percent increase in ADR, and an overall 6.3 percent rise in RevPAR for August, compared with August 2011.