Thanks to energy-driven demand, Houston achieved record occupancy levels in 2014. The recent fall of oil and gas prices and more than 5,000 new rooms on the horizon poses a challenge to market-wide occupancy, though average rates continue to climb.
Occupancy swung above 75% for Seattle’s hotel industry in 2014, a reflection of the city’s blossoming economy. High demand has also supported strong average rates and rising hotel values.
Cincinnati’s workforce is set to return to pre-recessionary proportions by 2014, making the city’s economic recovery among the fastest in the Midwest. Cincinnati’s hotel industry has realized slower growth, though demand and ADR are trending upward.
Metro Denver’s economy is set to outperform the nation’s this year, and conventions in the city are on the rise. Hotel RevPAR in 2012 surpassed Denver’s pre-recession high, and healthy demand levels are pushing the pace of hotel transactions.
Seattle, WA is known worldwide for its reputation as a coffee & music haven, as well as extraordinary attractions including the Space Needle and Pike Place Market. This article shows trends in hotel supply, demand, & performance within the city.
$2.5 billion in projects are under development across multiple economic sectors, including tourism, in St. Louis. The return of commercial and leisure demand, along with rising average rates, should speed recovery for the city’s hotels.
The recent recession cut into Wilmington’s hotel market as demand from financial institutions and other firms weakened; however, new projects, rising room rates, and a strengthening economy in the city and MSA are putting RevPAR on the mend.
Corpus Christi’s economy is buttressed by tourism, an expanding international port of shipping and trade, and an energy industry that has realized enormous growth over the past few years. How have improving economic conditions affected area hotels?
Wildfires ravaged lives and infrastructure on the northwest of Colorado Springs, setting off a scramble for hotel rooms. As the city rebuilds, major projects—including multimillion-dollar hotel renovations—aim to put the local economy back on track.
Hotel loans, transactions, and performance were on every hotelier’s mind at this year’s conference in Atlanta. Hospitality experts from all walks of life were on hand with answers and advice on how to move ahead.