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Reno Tahoe USA in the News

RSCVA REPORTS HIGHEST-EVER AVERAGE ROOM RATE OF $100.10 FOR WASHOE COUNTY HOTELS AND RESORTS IN AUGUST

2013-09-26

RENO, Nev. (September 26, 2013) — The Reno-Sparks Convention and Visitors Authority announced today that the Average Daily Room Rate (ADR) for area hotels in August 2013 was the highest ever recorded by the organization: $100.10 (up 11.7% versus 2012). In addition, the overall market rate of $93.16 is a 10.7% increase from last August’s $84.17 and contributed to Taxable Room Revenues, throughout Washoe County, of more than $32.1 million, a 9.3% increase year-over-year.
 
“After over five years of no growth, it is most gratifying to see this kind of year-over-year performance by Reno, Sparks and North Lake Tahoe’s hotel and resort community,” said RSCVA President and CEO Christopher Baum. “The first two-thirds of 2013 have proved that our destination can charge higher rates without scaring away new and returning customers; we’re still a great value even when our YTD hotel rates increase almost $10 ($9.52) over 2012.”
 
Baum noted that the region’s performance is a combination of more meeting and convention business, great sporting events like USBC bowling and volleyball, a strong special events season – including the addition of the Barrett-Jackson auction to Hot August Nights – and increased volumes of vacation and business travelers.
 
“It took a lot of hard work by the RSCVA team and our travel industry and special event partners to make this happen,” according to Baum. “We are definitely making major progress in growing both meetings industry and consumer awareness – and trial – of all that our wonderful region has to offer.”
 
Calendar Year 2013 is showing year-over-year improvement in all of the major financial classifications as well. Growth from January through August 2013 has realized Taxable Room Revenues of $185.4 million (16.9% YOY), ADR of $79.84 (12.3% YOY) and Cash Occupied Room Nights of 2.3 million (4.1% YOY).
 
Sustained improvement in the first eight months of 2013 contributed to positive trends actualized in the RSCVA’s Fiscal Year 2012-2013, which was the highest performing period for Taxable Room Revenues, ADR, and Cash Occupied Room Nights since Fiscal Year 2007-2008. The ADR for Fiscal Year 2012-2013 was the second-highest ever recorded at $74.91, showing a year-over-year increase of 4.8%. (The highest ADR on record was $78.23, realized in Fiscal Year 2007-2008.) Beginning July 1, 2012 and ending June 30, 2013, year-over-year increases were also seen in Taxable Room Revenues of $252.1 million (8.9% YOY), Cash Occupied Room Nights of 3.3 million (3.9% YOY), and Percentage of Occupancy of 62% (4% YOY).
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The RSCVA collects room taxes from Washoe County hotels, motels, RV parks, vacation rentals and timeshare properties.
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About the RSCVA:
The RSCVA is the primary agency supporting the promotion of meeting, convention and tourism business for the Reno/Sparks/North Lake Tahoe region.  Reno Tahoe USA is a friendly, four season resort destination – in a spectacular natural setting – that offers world class attractions, activities and events to excite the passions of almost anyone. For more information visit www.VisitRenoTahoe.com.