Investment and Vacation Real Estate - Orlando, Florida

The sweet spot of Orlando's summer tourism season soured last month for the region's hotels, as they logged their worst July in more than two decades.

Orlando-area hotels were 68.2 percent full on average in July — a month in which summer vacationers routinely push the market's occupancy rate beyond 75 percent.

Last month's occupancy was down 6.5 percent from July 2008 and was the first July rate to slip below 70 percent since Smith Travel Research started keeping track of the local market in 1987.

"Obviously the occupancy of below 70 percent for the month of July is a reflection of the current state of the economy, the fear of job losses, and the issues relating to the spring 2009 'blacklisting' issue," said Richard Maladecki, president of the Central Florida Hotel & Lodging Association.

It's a trend that's likely to continue for the "foreseeable future," Maladecki said, though as the summer season comes to a close and the historically slow fall season looms, many hoteliers are holding out hope for a strong holiday season in December.

John Parkinson is one general manager who hopes the market turns the corner by the end of the year.  complete story

Year	Occupancy rate (avg.)	Daily room price (avg.)
1999	79.7%	$80.50
2000	79.0%	$81.27
2001	72.0%	$77.66
2002	70.2%	$76.23
2003	72.2%	$73.69
2004	78.4%	$77.57
2005	80.1%	$84.66
2006	76.4%	$91.36
2007	74.6%	$95.45
2008	72.9%	$93.99
2009	68.2%	$82.79

SOURCE: Smith Travel Research

Source: Orlando Sentinel 

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