Lodging in North Carolina continues to improve, according to recent data received by the Division from Smith Travel Research. Hotel/motel occupancy was up 4 percent for the first half of 2012, just outpacing U.S. (+3.4 percent) and South Atlantic (+3.1 percent) levels. Since 2009, year-to-date occupancy through June in N.C. is up nearly 15 percent.
As well, ADR in the state for the first half of the year had its largest growth since 2008, increasing 4 percent from 2011, and is approaching 2008 record levels (down just 1.3 percent from 2008 ADR). N.C. 2012 year-to-date room rate growth is slightly behind the U.S. ADR growth of 4.4 percent (but neither did it fall as far as at the U.S. level during the recession).
Year-to-date demand for hotel/motel rooms in North Carolina is up 4.4 percent (U.S. demand +3.7 percent; South Atlantic demand +3.0 percent) and room revenues are up 8.6 percent from 2011 (U.S. revenues +8.3 percent; South Atlantic revenues +6.4 percent).
Regionally, the N.C. lodging industry also continues to post positive numbers. Occupancy in all of the seven economic development regions of the state is up year-to-date through June, particularly in the Western (+7.1 percent) and Triad (+8.6 percent) regions. Demand for lodging is up 8.7 percent in the Triad Region, up 8.1 percent in the Western Region and up about 3 percent for the entire Coastal Region of North Carolina. ADR continues to show strong growth regionally as well. ADR is up 4.6 percent in both the Triangle and Western regions, and up 5.4 percent in the Carolinas Region.
The complete report is available here. For more information contact Marlise Taylor at (919) 733-7278.