Hotel revenues flat

FORT MYERS — Revenues at hotels in Lee County were flat in August compared with the same month a year ago, following gains in prior months.

Revenue per available room, a financial gauge that is the function of average occupancy and daily room rate, was $54.23, 0.1% higher in August than the same month one year ago, according to David-Peterson Associates' research for the Lee County Visitor and Convention Bureau. In July, revenue per available room rose 7.5% over the same month a year ago.

In August, occupancies fell 0.6% to 48.8% and the average daily rate rose 0.8% to $111.20 compared with August 2011. Hurricane Isaac skirted the Gulf Coast in August, which likely caused some hotel cancellations.

In a survey of property managers, 34% say their reservation levels are up through November compared with the same period last year. Meanwhile, 42% say their reservation levels are the same and the remaining 24% say reservations are down.