Laserfiche WebLink
<br />household) representing between 0.2 percent and 1.9 percent of a broad sample of <br />2004 and 2005 Pleasanton sales. <br /> <br />. "Workforce" households typically earning 150 percent to 200 percent of Area Median <br />Income or AMI (representing household incomes ranging from $98,625 for a two- <br />person 150 AMI household to $164,400 for a four-person 200 AMI household) can <br />afford to purchase a house for up to $365.880 to $609.893 representing between 5.7 <br />percent and 26.1 percent of a broad sample of 2004 and 2005 Pleasanton sales. <br />According to CTPP data in 2000, employees in Pleasanton had a median household <br />income of just under $90,000 and therefore could afford less than 5 percent of <br />Pleasanton housing. <br /> <br />. The rental market in Pleasanton is somewhat more affordable, with some low income <br />households (80 percent of Area Median Income) and all median income households <br />able to afford the average third quarter 2005 Pleasanton average rent of $1 ,333. <br /> <br />Pleasanton has numerous unique cultural and visitor assets which can support a <br />strong tourism / arts sector. <br /> <br />. Average Daily Rates (ADR) peaked in 2001 at $110 per room night, but then <br />dropped between 2001 and 2004 by 37 percent. Occupancy rates declined rapidly <br />between 2001 and 2002 (the year of economic decline), from 72 percent to 60 <br />percent, and held relatively steady at this lower level until 2005. <br /> <br />Until recently, the major source <br />of lodging demand in Pleasanton <br />has been business travelers. <br />including participants in <br />corporate training occurring in <br />Hacienda. Although weekend <br />and wedding business has <br />increased over the past five <br />years. the overall economic <br />downturn and the acquisition of <br />PeopleSoft has greatly reduced <br />this key corporate business hotel segment. <br /> <br />. Both Average Daily Rate (ADR) <br />and occupancy rates have <br />recovered in 2005 to an ADR of <br />$85 and an average occupancy <br />of 67 percent. <br /> <br />. <br /> <br />Pleasanton Hotel Average Daily Rate and Occupancy Trends <br /> <br />$120 <br /> <br />80% <br /> <br /> <br />$100 <br /> <br />7""_ <br /> <br />60% <br /> <br />$80 <br /> <br />~ $60 <br />< <br /> <br />sO% ,Il <br />~ <br />40"10 I <br /> <br />30%0 <br /> <br />$40 <br /> <br />20% <br /> <br />$20 <br /> <br />10% <br /> <br />$0 <br /> <br />0% <br /> <br />1999 <br /> <br />2000 2001 2002 2003 <br />I.-~~;;;;';=-=-ADRJ <br /> <br />211II4 <br /> <br />2005 <br /> <br />P1easanton Economic Development Strategic Plan <br />DRAFT - January 2006 <br /> <br />8 <br />