When it comes to tourism and lodging, the numbers say thatHamiltonCountyis among the strongest economic areas inIndiana.
According to a recent report by STR – Global/Smith Travel Research –HamiltonCounty’s occupancy rate was 63 percent for the first six months of 2012, which is an increase of 8.4 percent in room demand compared to a year ago. It’s also well above the statewide occupancy of 55.4 percent. Not only is there increased demand, but the report also shows that the average daily room rate increased nearly 9 percent.
“The report’s findings are an indicator of how healthy the supply and demand side of the market is,” said Executive Director Brenda Myers. “Tourism finally is making a comeback close to pre-recession days.”
STR Global/Smith Travel Research Findings
January-June Hamilton County Indiana 2012 Occupancy 63 percentAverage Daily Rate—$93.49 55.4 percentAverage Daily Rate—$84.00 2011 Occupancy 57.9 percentAverage Daily Rate—$81.76 51.9 percentAverage Daily Rate—$78.44
The average daily room was $93.49 during the first half of 2012, compared to $81.76 a year ago. While the 2012 Super Bowl helped increase occupancy and rates,HamiltonCountyalso had healthy gains from other factors, including increased sports events,KlipschMusicCenter, general leisure travel and corporate travel. During the first half of the year, 22 of 26 weekends showed increased occupancy.
These indicators are good news for the tourism industry and local businesses that benefit from visitor spending. From late 2008 through 2009, the nation’s hotel industry suffered one of its worst free-falls in more than 40 years, so the news of continued growth continues to fuel optimism for the future.