South Carolina Real Estate News

S.C. hotel occupancy increases outpace national, regional averages

Statewide income each offered space in S.C. resorts raised 2.2% in December as well as 4.6% for the year, the S.C. Department of Parks, Recreation & Tourist said Wednesday.

Revpar, as the tourist impact sign is recognized, stood at $43.12 in December. The annual boost outshined both nationwide (3%) as well as South Atlantic local (4.6%) standards.

State parks likewise saw a profits rise in December as well as for the year. Compared to a loss as well as wintertime of 2016 impacted by Storm Matthew, state parks profits rose 18% in December as well as 18.3% year to date. Compared to revenue standards, the yearly rise was closer to 4%.

Three of the state’s significant airports ended 2017 with year-to-date rises in deplanements, led by Myrtle Beach International Airport terminal’s 16.7% dive. Myrtle Coastline saw a 21.9% deplanement increase from December 2016 to December 2017.

Deplanements also climbed in Charleston (7.3% for the year, 15.2% in December) and Greenville/Spartanburg (5.2% for the year, 11.4% in December). Deplanements in Columbia climbed 1.8% in December however fell 4.6% for the year.

The state saw a 7.2% boost in deplanements for the year as well as a 13.2% rise in December.

The immediate future does not appear fairly as glowing for the hotel industry. Resort research firm STR Inc. forecasts a drop in spring tenancy statewide, projecting a 2.5% decrease in May, a 3% drop in April and also a 1.4% dip in May.

At a seminar earlier this month, the tourism department revealed that the sector has a financial effect of $21.2 billion in South Carolina, sustaining one in every 10 tasks in the state and also creating $1.6 billion in state and neighborhood taxes.