Hotel revenue in the Municipality of Anchorage was flat for the month of March 2018. The data, based on STR Report information, covers hotels in the municipality of Anchorage. It does not account for B&Bs, hostels, or Airbnb-type rentals.
Slightly lower hotel demand and a similarly sized increase in overall supply of available room nights meant March hotel occupancy was down 6 percent year-over-year. The lead-up to the Passover and Easter holidays was in late March, instead of the middle of April as in 2017. Cultural and federal holidays typically depress demand as more people stick close to home and business and meeting travel avoid conflicts.
March performance was buoyed by a state sports tournament. The Alaska School Activities Association’s March Madness Alaska is the state’s high school basketball tournament. Consuming approximately 3,500 room nights, the tournament was similar in size to the 2017 tournament. ASAA recently announced that the tournament will be held in Anchorage annually through 2023.
On the other hand, Iditarod’s effects were about 15 percent weaker than 2017. It’s unclear what might have led to the outcome.
Gross revenue in hotels is up 3 percent year to date.
Not familiar with terms in this story? Check out our guide to hotel performance terms.