The first eight months of 2011 found that for hotel owners in Newport Beach are enjoying Southern California’s highest growth rate in RevPar at 17.8% year over year, according to PKF, the lodging experts at Colliers. Newport Beach’s average room rates this year were up 9.5%, at $196.78. Hotel room occupancy has been 73.3% in 2011, up over 5% from 2010.
Top Southern California destination markets:
- 1. Newport Beach
- 2. Beverly Hills, up 17.3%
- 3. West Los Angeles 16.5%
- 4. West Hollywood 16.3%
- 5. Downtown Los Angeles 14.2%
- 6. Long Beach 13%