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5/27/2004

Colorado hotels shaking off recession

The Associated Press

DENVER — Hotels across the state are starting to shake off the effects of the recession and summer wildfires that have kept tourists away, according to new figures.

Hotels in Denver, mountain properties and cities such as Colorado Springs and Grand Junction saw their overall occupancy rate improve to 51.2 percent from 48.2 percent in the first four months of 2004.

The average room rate rose to $103.32 from $101.51, according to the Rocky Mountain Lodging Report released Monday.

The average rate for Denver-area hotels through April was 56.4 percent, up from 53.6 percent in 2003. The average cost of a room fell to $80.77 from $82.66.

“In the early stages of a recovery, hotels often attempt to fill their rooms by reducing their rates to get a little more business,” said Bob Benton of Robert S. Benton & Associates and the author of the report.

Last April was one of the worst for hotel occupancy in years.