August 2024 saw modest increases to airport volume, and increases in hotel revenue despite small declines in demand.
Hotel Supply Contracts, Demand Slips, yet Revenue Rises.
August 2024 hotel occupancy was more than 88%, a slight decrease from the same month last year and bringing the YTD occupancy to 72.0%. Interestingly, both supply (the number of available room nights) and demand (the number of room nights filled by guests) decreased in August 2024 from the same time last year at -0.9% and -2.7% respectively. 2024 hotel revenue reached $321.7 million in August after adding $64.3 million in the month, which was an increase of 5.7% from 2023 revenue year to date.
Airport Passenger Volume Increases
More than 341,000 people passed through security at Anchorage's airport in August, improving 4% over last year and also topping passenger counts in August of 2019. While some indicators lag, air travel has fully recovered to 2019 levels for Anchorage. TSA counts include both visitor traffic and residents passing through the security checkpoint, and so it's not a pure metric of how visitation to Anchorage and Alaska are faring, but a sign of overall travel activity in the airport.
