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SF hotel rates and occupancy keep dropping

SF hotel rates and occupancy keep dropping

Hotels in San Francisco and Bay Area continued to decline in July 2009.  San Francisco room rates averaged $152.84 in July 2009, down 18.8 percent from $188.17 in July 2008, according to the most recent report from PKF Consulting.  Occupancy fell to 84.2 percent in July this year, down 5.1 percent form the previous year.

The most expensive hotels in San Francisco suffer the most where room rates over $200 dropped on average to $251.73 in July 2009 from $340.00 in previous year, down 26 percent.

From January to July in 2009, San Francisco average room rates are down 16.9 percent to $158.08.  Occupancy rate fell to 72.6 percent from 79.1 percent, down 8.1 percent.

SF Business Times-10/22/2009