Lodging Tax Revenue Report
February 2021
From the 4.25% lodging tax collections that Visit GJ received (we do not have short-term rental lodging tax revenue yet, it is collected quarterly), February 2021’s business was a factor of 19.0% down compared to February 2020 (adjusted for late and missing payments). Of the Grand Junction lodging properties that reported their metrics to STR, LLC., occupancy for February 2021 was 45.4%, ADR was $69.16, and RevPAR was $31.41.
For the second consecutive month, Grand Junction experienced an increase in all hotel metrics over the previous month. February 2021’s business experienced a factor of 18.8% increase in occupancy, a 2.8% increase in ADR, and a 22.3% increase in RevPAR over January 2021’s business. When compared nationally, Grand Junction’s hotel occupancy was the same as the U.S. occupancy rate for February at 45.3%. RevPAR for Grand Junction trailed the U.S. RevPAR of $44.57 by 41.9%, primarily due to a higher U.S. ADR of $98.31.
In terms of when Americans will go traveling, the latest research from Destination Analysts shows that July continues to strengthen as a peak month for travel, as now one-third of American travelers report at least tentative trip plans for that month. Travel also looks to continue this Fall – nearly a quarter of American travelers say they have trips planned for September, and about 22 percent have at least tentative plans in October. Grand Junction’s lodging metric data continues to demonstrate that hotels, on average, can increase ADR towards the U.S. average while not compromising occupancy. The significant ADR gap between Grand Junction’s hotels and U.S. hotels as a whole can be lessened by deploying a strategic revenue management approach to capitalize on the upcoming traveler demand for hotel rooms. As always, please feel free to contact Elizabeth at ElizabethF@GJCity.org for assistance with yield management.
Click here for the latest sales, use, and lodging tax collection reports from the City of Grand Junction
*Source: STR, LLC. - REPUBLICATION OR OTHER RE-USE OF STR’s DATA WITHOUT THE EXPRESS WRITTEN PERMISSION OF STR IS STRICTLY PROHIBITED.
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