The summer-long party for Colorado Springs hotels was over in November as COVID-19 cases surged across Colorado and the rest of the nation.
The occupancy rate for local hotels had been among the nation’s best at more than 60% from July through October, but plunged to just 46.3% in November, according to the Rocky Mountain Lodging Report. That is down from 56.8% in November 2019, the lowest rate since June and the lowest rate for any November since 2012.
“As COVID cases spiked in November, a lot of people canceled their travel plans, and with no events, including holiday parties, the industry was really hurt by the pandemic to an extent it hadn’t been since last spring,” said Doug Price, CEO of Visit Colorado Springs. “I have heard that by the end of the second quarter, 60% of the population will have received the COVID vaccine. If that goal is reached, it bodes well for the second half of next year.” Bookings for the first quarter of 2021, though, are weak.
The occupancy in local hotels for the first 11 months of the year was 51.4%, down from 72.3% during the same period last year. The average room rate fell 14.6% during the same period to $103.40.
Despite the decline, Colorado Springs still had the second highest occupancy rate in November of any city in the state after Craig’s 62.3% and was well above the statewide average of 34.4%. The occupancy rate for Denver hotels was just 33.2%, down by nearly half from 64.6% in November 2019, with downtown convention hotels hit the hardest. Statewide hotel occupancy in the first 11 months of the year fell to 44.9% from 71.2% during the same period last year, while Denver’s occupancy rate plunged to 42.6% from 76.1% last year.
The state’s average room rate in November fell 23.9% to $99.20 and is off 17.1% in the first 11 months of the year to $132.32. Denver’s average rate in November was down by more than a third to $87.36 and is off 28.4% to $106.10 in the first 11 months of the year.
The Colorado Springs numbers in the report don’t include The Broadmoor of Cheyenne Mountain Resort, which are included in a separate category called “other resorts.”