Denver hotels are in the midst of their best summer since before the Great Recession, as tourists and conventioneers filled rooms in June and July.
Occupancy in those months hit almost 90 percent, according to Smith Travel Research. The surge in demand has pushed room rates and revenue to their highest point in at least 5 years.
It’s a remarkable turnaround for an industry that was pummeled by the recession. Revenue per available room, a key indicator of hotel profits, has jumped about 80 percent compared to 2009.
Business and convention travelers are competing with an influx of tourists. Also, although hotels were trending up before recreational marijuana, business has accelerated since pot stores opened last year.