North Carolina lodging properties continue to perform well through the third quarter of 2013, with year-to-date room demand and room revenues at record highs. Year-to-date demand (number of room nights sold) through September was 23.6 million, up more than 14 percent from 2000 (see graph). Room revenues are up 3.8 percent from the same time period last year, and up more than 12 percent from 2011. Regionally, the Western Region continues to lead the state in revenue growth with a 10 percent increase over YTD 2012. The region’s growth can be attributed to both a healthy demand increase YTD (+4.6 percent) as well as continued growth in room rates YTD (+5.2 percent).
Room demand for September was flat from September 2012 statewide, dampened by growth in September 2012 due to the Democratic National Convention in Charlotte. However, September demand growth during a two-year period stands at 3 percent statewide. The Carolinas Region and Mecklenburg County saw demand decline somewhat for the month as well, as a result of the DNC last year; however, each show strong two-year growth in number of rooms sold. Room demand for the Carolinas Region was up nearly 10 percent from September 2011 to September 2013 and room demand for Mecklenburg County was up more than 9 percent from September 2011 to September 2013.
Room supply in the state is up more than one percent year-to-date, outpacing supply growth at the national (+0.7 percent) and South Atlantic regional (+0.3 percent) level.
The complete report is available at here.