Anchorage hotel demand returned to average for April after sliding in each of the months in Q1. The first quarter of 2023 was slower than the year prior, which may have more to do with the strong snapback of travel in the early part of 2022 than any lull this year.
Average occupancy for April 2023 was 65%, exactly in line with last April as business begins to pick up for the busiest months of the year for Anchorage. At $148, rate continues to rise, although at a slower pace than last year. Rate was up 6% compared to 2022. Despite the slower start compared to 2022, through April Anchorage hotel revenue is just $670,000 shy of prior year. 2023 is tracking level with last year, with improvements in performance expected in the second and third quarters.
Not sure what these terms mean? Check the guide to hotel performance.