2018 may end up as one of Anchorage's best in terms of hotel performance. Initial estimates put hotel revenue for the year above $262.5 million. If the forecast holds, it would come in second only to 2015. Average daily rate climbed near - and in some months even surpassed - historic marks. Hotel demand reversed course and improved after a series of declines in 2016 and 2017, up more than 1 percent year over year.
"We think that losses [in 2016 and 2017] were primarily a state and business response to Alaska’s economic slump," said Visit Anchorage President and CEO Julie Saupe. "Leisure travel continues to be a bright spot, despite these headwinds."
The findings rely on STR monthly data through November, and daily data for a preliminary picture of December performance. A better estimate will come with STR's monthly report, and the picture will become clearer still in late February once the municipality completes bed tax collection reporting through Q4 2018.
Not familiar with lodging terminology? Review our guide to hotel performance terms.