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SF hotel occupancy holds up, not rates

SF hotel occupancy holds up but room rates fall

Hotel occupancy in San Francisco increased to 87.5 percent in October this year from 82.4 percent in October last year.  San Francisco room rates averaged $198.42 in October 2009 compared with $208.04 in October 2008, down 4.6 percent from last year.

Hotels in San Francisco over $200 jumped up 8.5 points to 90 percent in October 2009.  Those hotels saw also greater discounting where room rates averaged $234.60 compared with $251.31 a year ago, down 6.6 percent from last year.

From January to October in 2009, San Francisco average room rates were down 15.2 percent to $163.06.  Occupancy rate fell to 77.2 percent from 81.3 percent, down 4.1 percent.

SF Business Times-12/4/2009