PKF-logo1As the high season winds down, Cape Cod area hotels averaged 48.4 percent occupancy rates for 2012, down 8 percent compared with the same period last year, according to a report from Boston-based hospitality industry tracker PKF Consulting.

The 17 hotel operators sampled for the Cape Cod area, which includes Martha’s Vineyard and Nantucket, showed occupancy rates were down, but average daily rates (ADR) jumped 8.8 percent to $183.94 from 2011, resulting in $88.96 in revenue per available room (RevPAR), the same as last year.

The impact of Hurricane Sandy contributed to the decreases in occupancy as many travelers had to cancel their trips, according to the report. Except for the "islands" submarket, which remained flat, nearly all hotel subcategories suffered from occupancy decreases. Yet, for October, RevPAR increases were driven by growth in ADR for the Cape submarket.

For year-to-date through October, the "islands" submarket achieved the most significant occupancy growth of 5.4 percent. The Cape Cod submarket reported identical occupancy and ADR increases at 4.8 percent. Hotels charging $125 and higher per night achieved a larger RevPAR growth at 9.8 percent, while hotels charging less than $125 a night experienced a smaller RevPAR gain of 6.4 percent.

Cape Hotels Lost 8 Percent Occupancy Year-Over-Year

by James Cronin time to read: 1 min
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