Demand began its seasonal cool, but stayed strong enough to ensure a fantastic return. ADR in September was up year over year reaching $211.36, while demand decrease slightly compared to 2022. Through the first nine months of 20233, hotel revenue is up nearly 4% compared to the year prior, and that augurs for Anchorage's bed taxes in the future.
Interestingly, there were slightly fewer hotel rooms to fill in Anchorage relative to last year. Supply, the number of available rooms was down 3%. This can be attributed mainly to renovations at a few properties taking some rooms offline temporarily. As a result, occupancy went up slightly even though demand dropped nearly 3% year over year.
Not sure what these terms mean? Check the guide to hotel performance.
