Lee hotel revenues rise

FORT MYERS — Hotels in Lee County posted a 5% increase in revenue per available room, the result of higher occupancies and room rates.

Revenue per available room, an important gauge of the financial health of hotels, is a function of average occupancies and daily rates. In March, hotels in Lee County reported revenue per available room was $163.34, a 5% increase over the $155.56 in March 2011, according to the Lee County Visitor and Convention Bureau.

Lee hotel occupancies rose 3.4% to 86% in March compared with the same month a year ago and average daily rates rose 1.6% to $189.92.

More than half of Lee County hotel managers surveyed by the bureau say the level of reservations for the three months ending in June is higher than for the same period last year. In March 2011, only 26% forecast higher reservation levels.

Click here to read a recent Business Review report on the hospitality industry on the Gulf Coast.