Atlantic City Hotel Rates Rise 10 percent

Sat, Mar 14, 2015

Maybe because of four casino hotels closing in 2014, the city’s hotel rates saw a 10 percent increase. Overall visitation for the resort was down by five percent from 2013.

Atlantic City is losing hotel rooms, but the price of those that remains is going up.

Average room rates were up 10 percent last year, according to the latest Hotel Price Index by Hotels.com. The average price for a hotel room in Atlantic City was $150 per night, a 10 percent increase from $136.

Meanwhile, total visitors for the city was 25.4 million in 2014, down 5 percent from 2013 according to data by the South Jersey Transportation Authority and Stockton University

Atlantic City is the 26th most popular domestic destination, surpassing Myrtle Beach, S.C. according to the report.

The occupancy rate in the city’s casino hotels was 92 percent last year, up nearly 1 percent year-over-year, according to the New Jersey Division of Gaming Enforcement division. The occupancy rate for the first nine months of 2014 was 81.5 percent, up 1.8 percent year-over-year.

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