Tourists and conventions filled Denver hotels in June and July at a pace not seen since before the recession.
Occupancy in those months hit almost 90 percent. The surge in demand has pushed room rates and revenue to their highest point in at least 5 years, according to Smith Travel Research.
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. Though hotels were trending up before recreational marijuana, business has accelerated since pot stores opened last year.