South Coast Hotels See Healthy Increase Near End of 2024

Santa Barbara County Hotels Show Increases in Revenue, Occupancy Compared to 2023

By Ryan P. Cruz Fri Dec 27, 2024 | 11:35am

The final performance reports for South Coast hotels in 2024 show a healthy increase in business compared to the same time last year, with October results revealing a record-setting 10 percent revenue increase compared to 2023, while occupancy was also higher for local hotels in both October and November.

The results for October and November 2024 were compiled by hospitality data analytics company STR and were shared by Visit Santa Barbara before the holidays.

In October 2024, gross hotel revenue was up 10 percent — a new October record, according to Visit Santa Barbara — while the average rate also increased to $350 a night, up three percent compared to 2023. This bump in business was reflected in the monthly Transient Occupancy Tax (TOT) projections for the region.

In October, hotels brought in $3.06 million in TOT for the City of Santa Barbara, $1.33 million for the City of Goleta, and $1.83 million for the County of Santa Barbara. November’s TOT projections were just as promising, with new November records for both the City of Santa Barbara at $2.43 million and the City of Goleta at $1.10 million.

South Coast hotels were also booking a larger portion of their rooms, with an increase in occupancy in both October and November compared to 2023. Occupancy was at 74 percent in October — a month with many festivals and events in Santa Barbara — and even during the normally slow month of November, hotels saw an increase of 5 percent from last year with occupancy at 67 percent.

In both months, hotels made more profit per room compared to last year, with revenue per room coming to $260 in October and $211 in November — both representing a more than 7 percent increase from 2023.

“November’s uptick in travel, which contributed to the Santa Barbara Airport reporting its largest passenger counts to date on December 1, along with Santa Barbara’s unique holiday offerings, points to an exciting conclusion to 2024 as the holiday season continues to unfold,” said Kathy Janega-Dykes, president and CEO of Visit Santa Barbara.

Even with the increase in business, Visit Santa Barbara has brought back its “locals-only” lodging promotion, with 30 precent discounts for residents from Goleta to Carpinteria — including visiting friends and relatives — who book overnight trips along the South Coast. This discount applies at more than a dozen properties through early 2025.

To view all the available offers, terms and instructions for booking, visit santabarbaraca.com/locals.