Valley Hotels: December Rates are Up, Occupancy is Down

December occupancy rates in San Fernando Valley hotels fell by 7.1 percent from 2004 to 2003, while average daily room rates rose by 7.6 percent. The average room rate in the Valley was $104.33, up from $96.95, and occupancy was 65.64 percent, down from 70.64 percent. In greater Los Angeles, room rates were up by 8.6 percent year over year and occupancies were up by 0.4 percent. In Southern California as a whole, 2004 showed a significant increase in both occupancy and room rates. For the year, occupancy was up 7.5 percent from 69.57 percent to 74.79 percent, and average rates rose 5.6 percent from $113.24 to $119.61.