Local hotel industry reports NCAA impact

3.29.2011
Recent report shows effect of the NCAA Tournament on occupancy numbers

The Tulsa Hotel and Lodging Association have released preliminary numbers showing hotel occupancy rates were up by 30 percent to average market occupancy of 75 percent during the NCAA Tournament. The tournament was hosted during spring break, a notoriously slow week for local hotel business.

“Typically during spring break, Tulsa area hotels experience lower than average occupancy rates due to little corporate travel and few vacationing families,” said Michael Frimel, executive vice president of the Coury Collection of Fine Hotels, and president of the Tulsa Hotel and Lodging Association. “The NCAA Tournament not only helped us make up for the lost business, but greatly exceeded the average occupancy for that week without displacing any corporate business.”

Some hotels experienced up to an 80 percent increase in occupancy over this time last year and in addition to the increased occupancy, the report shows the average daily rate for the Tulsa market also increased by 10 percent for the week of March 13 – 19, 2011.

“A 10 percent increase in rates multiplied by an average 30 percent increase in occupancy results in a significant increase not only in revenues for hotels, but local tax reveneus in Tulsa,” said Frimel.

The increased hotel business was directly related to the NCAA Tournament in Tulsa March 18 and 20. Actual sales tax revenue data from the tournament will be available in May.

“Beyond the increased hotel occupancy and additional sales tax revenue generated from the thousands of visitors we had in town, this event also provided national media exposure for Tulsa and brought many first-time visitors to our city,” said Ray Hoyt, senior vice president of VisitTulsa. “Through our information booths and street fleet crew we heard many positive remarks from visitors about Tulsa and their surprise to find we had so much for guests to do. That type of exposure will go a long way in helping our image in the future and attracting more of the individual visitor business.”



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