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Hotel occupancy rate rises in Charlotte

Charlotte’s hotel occupancy rate rose to 61.1 percent in October from 57.7 percent the month before, the Charlotte Regional Visitors Authority said Thursday.

October marks the 10th consecutive month in which the rate has risen from the previous year, the longest streak since 2005-06, the CRVA said.

Year to date, the occupancy rate is 58.5 percent, up 11.7 percent from the same time last year.

Mike Applegate, CRVA director of research, credited transient business and corporate travel for boosting the rate.

Hotel rates are also up.

The average daily rate was $83.48 in October, up 1.1 percent from the same month last year. October’s rate was the highest for 2010 and the highest since $83.69 in May 2009.

October also marks the fourth straight month of ADR increases from the previous year.

Year to date, the ADR is $79.13, down 1.6 percent from the same time last year.

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