Lower lodging rates have ‘ripple effect’ on Aspen economy
ASPEN REAL ESTATE – A full hotel in Aspen doesn’t mean what it used to.Free nights, lowered room rates and the sorts of discount promotions that have become the norm …The occupancy rate at local hotels, lodges and condos has long been a telling economic indicator, and will remain so, but a new factor must now be taken into consideration — the average daily rate.Average occupancy for the month of January was about 68 percent — just 1.6 percent down from the same month a year ago. The average daily rate, or ADR, however, was down 6.4 percent, according to Bill Tomcich, president of local reservations agency Stay Aspen Snowmass.
By Janet Urquhart, Mar. 3, 2010 Aspen Times
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