Smith Travel Research–November 2019
According to Smith Travel Research data,provided by the Virginia Beach Convention and Visitors Bureau(CVB), Virginia Beach November occupancy was up 10.6% to 52.6%. This isthe highest November occupancy since 2003 and the highest November occupancy of the compset that includes Myrtle Beach, Ocean City, Coastal Carolina and Williamsburg. Virginia Beach ADR was up 4.2% to $88.84,which isthe highest November ADR on record. RevPAR was up 15.2% to $46.70, and revenue was up 13.5%.
All areas of Virginia Beach saw increases in occupancy in November, with the Oceanfront seeing the largest increase, up 13.3%. Town Center saw the smallest increase in occupancy (+2.6%), due to the only supply increase (+5.9%), but still has the highest actual occupancy (63.2%) and RevPAR ($55.90). The Resort area saw the largest increase in RevPAR (+15.9%), due to a 12.9% increase in occupancy and a 2.7% increase in ADR. Northampton saw the only supply decrease (-10.9%), contributing to a 12.5% increase in occupancy and a 9.5% increase in RevPAR.
Virginia Beach continues to lead the compset in YTD occupancy at 66.6%. Virginia Beach saw increases in YTD occupancy (+2.7%), ADR (+1.9%) and RevPAR (+4.7%).
For more information related to STR data, industry trends or CVB activities, please contact CVB marketing strategist, Kelsey Blevins at firstname.lastname@example.org