As the University-owned Inn at Harvard finishes its first year of operation, it has reached a 72 percent occupancy rate, according to Inn officials.

The Inn, owned by Harvard Real Estate on behalf of the University, opened in October, 1991, under the professional management of Doubletree-Canadian Pacific Hotels by a lease agreement.

"We couldn't be more delighted," said Harvard Real Estate Vice President Melanie Ray in a written statement. "The Inn has exceeded our expectations and we are extremely pleased by the very positive response from both the Harvard and Cambridge communities.

The 113-room, four-story hotel offers discounts for University affiliates, according to General Manager Richard Carbone.

"Reservations that emanate from the University are $129," Carbone said. "The rate for the general public is $149." However, rates often fluctuate based on room availability, Carbone said.

During peak weekends, Carbone added, rates for University students and their parents often increase depending on room availability. The rate for Commencement weekend surges to $265 for all guests, regardless of Harvard affiliation.