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Hospitality & Tourism

July 30 - Golden Isles Among Southeast Destinations Seeing Increase in Revenue

 
Brunswick Business Journal Staff Report
 
July 30, 2018 - Bookings and revenue are up for resorts in the Southeast including the Golden Isles. Inntopia’s DestiMetrics Monthly Market Briefing reported that participating destination communities at seven resorts in Georgia, South Carolina, Florida, and Alabama are maintaining consistent occupancy and revenues for both the month of June and the full summer season. As of June 30, aggregated results for the month of June showed a 3.5 percent increase in actual occupancy compared to June 2017 while the Average Daily Rate (ADR) edged up 2.5 percent for the same period. The combination of higher occupancy and rates led to a 6.1 percent increase in revenue for the month.
 
For the full summer season measured from March through August, as of June 30 occupancy is up a moderate 3.4 percent compared to the same time last year and ADR is up a slight 1.5 percent. The modest boost in both figures is delivering a 4.7 percent gain in revenue for the full summer season compared to last year at this time
 
“The big news in the Southeast region this month is the lack of big news, and that is actually a good thing,” said Tom Foley, vice president of Business Intelligence for Inntopia. “The strength of this summer’s current actual figures for the first four months of the summer along with solid bookings for the remaining months of July and August are indicating a very good summer unless serious storm weather or a significant economic shift conspire to alter the situation.”
 
The Briefing also tracks a six-month forward look at booking patterns and rate. Going into the fall months, bookings made in June for arrivals in the months of June through November are up 7.7 percent compared to the same time last year. Increases in bookings for arrivals were up in each of those months except for July which was down a scant 0.1 percent.  And although it is still early in the fall booking season, the month of November was up a strong 27.2 percent compared to last year at this time.
 
“The strength of the summer season in the Southeast is really a testament to the marketing organizations and property managers throughout the region who are very effective at marketing their mature product while managing rates strategically as circumstances dictate,” Foley said. 
 
DestiMetrics, part of the Business Intelligence platform for Inntopia, tracks resort performance in selected mountain and southeast U.S. destinations. Data from southeastern destinations is derived from seven resort destinations including Hilton Head, SC; Golden Isles, GA; Florida Keys & Key West, FL; Osceola County (Kissimmee), FL; Okaloosa County, FL: Panama City Beach, FL; and Alabama Gulf Shores & Orange Beach, AL.
 
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