A primer on San Francisco's hotel market
Challenges, recovery and future demand drivers to the recovery of hotels in the Bay Area
The San Francisco/San Mateo hotel market remains one of the least recovered among major U.S. markets.
Seattle's hotel pipeline is in the middle of the pack among top 25 markets
Half of properties under construction fall in a single submarket
Seattle’s hotel pipeline mirrors the national average, with roughly 1,300 rooms underway across seven properties, or 2.5% of the existing room supply totaling 51,000. An additional...
Denver's hotel transaction volume held steady in 2024
Three transactions made up 25% of the total sales volume
Roughly $338 million across 29 hotels changed hands in Denver last year, achieving a comparable sales volume to the prior year. This compares to the 10-year market average of about...
Hotel transactions in Las Vegas hit lowest point in over a decade
Fewer than 10 hotels traded, with not a single transaction exceeding $30 million
Roughly $115 million of hotel properties were sold in Las Vegas last year, a decrease of 90% compared to the prior year. This was the lowest volume recorded in the city since 2014,...
San Diego hotel pipeline is among largest of the top 25 markets
One hotel accounts for over 50% of rooms under construction
San Diego exhibits a strong pipeline of hotel rooms under construction and in final planning, as the metropolitan area has roughly 2,900 rooms underway across 10 properties, or 4.3...
These four California hotel markets are poised for strong growth in 2025
Oakland area to be among top performers based on revenue per available room
The 2025 outlook for several California markets calls for a notable acceleration in hotel performance compared to the subdued results of 2024. Markets such as Oakland, Wine Country...
Hotel transactions in California remained muted compared to historical standards
Two transactions made up 20% of the total sales volume
In 2024, roughly $2.5 billion of hotel properties were traded in California, a decrease of 6% compared to the prior year, with the number of sales decreasing by over 10%. This was ...
Half of California's markets showcase strong pipeline of new hotels
Growth rates within the state exceed national average
Developers are active across several California markets, with 14,700 rooms under construction across 110 hotels, or 2.6% of the existing supply.
Denver to see large influx of hotels over next two years
Expect to see roughly 6,500 more rooms across 43 properties
Denver has a strong pipeline of rooms under construction and in final planning, occupying fourth place among the top 25 hotel markets tracked by CoStar.
Weekday hotel demand drives strong occupancy growth in DC
Several relocations of Fortune 500 companies to the capital boosted corporate transient demand
Weekday occupancy gains have driven Washington, D.C.’s strong hotel performance this year, partly due to a growing corporate presence in Virginian suburbs that is bolstering demand...
This year's sales volume in Florida markets approaches 2023 levels, but with fewer deals
Four largest transactions accounted for about 60% of total sales volume
The sales volume from hospitality real estate deals in Florida has kept momentum this year compared to last. Orlando and Miami are leading the way, while Tampa and Fort Lauderdale ...
Orlando and Miami each surpass $1 billion in hotel sales
Nashville's hospitality market adjusts back to normalcy
Nearly 40% of the markets in the country's southern region reported higher hotel investment sales volume so far this year compared to the same period last year.
Taylor Swift delivers outsized hotel performance in Miami
Hotel rates get a 50% boost in Miami, over 200% in North Beach area over prior year
Events are playing an increasingly important role in hotel performance, and specifically Taylor Swift’s Eras Tour has been a major driver in hotel revenue throughout the United Sta...
City of Raleigh reveals three options for convention center expansion
Expansion is one of three city-supported projects to remake southern end of Downtown
City officials have released renderings showing three potential designs for the expansion of the Raleigh Convention Center in Raleigh, North Carolina, part of a larger remake of th...
New York bucks national hotel performance trends by class
While higher-tier hotels led the nation, lower-tier hotels posted stronger rate increases in the city
Throughout the year, the word "bifurcation" has been top of mind for many hotel owners and operators in terms of recent performance trends. Isaac Collazo, STR's vice president of a...
New York City hotels should prepare for increased labor expenses and lower profitability
Strong RevPAR growth has helped maintain a positive momentum in profitability margins
Revenue per available room for New York City hotels has maintained a strong growth of 8.2% year-to-date through September. As a result, profitability from operations, measured as g...
Southeast hotel markets relying on domestic leisure see performance declines
Weekend slowdown drives weaker performance
The slowdown in domestic leisure travel across the U.S. is evident when comparing destinations on the East Coast heavily reliant on weekend leisure activity against business hubs i...
Florida hotel sales slow but transaction volume remains strong
Two trades make up 50% of sales volume year to date
Sales volume in Florida during the first nine months of 2024 closely tracks the previous year, at 72% compared to the full year 2023. However, two trades accounted for 50% of total...
Luxury and upper upscale hotels lead revenue growth in DC market
Hotel type determines RevPAR growth
Revenue per available room in the Washington, D.C., area is nearly double the average among the top 25 U.S. hotel markets thanks in part to a bounce-back in business and government...
DC’s hotel room pipeline equally split between under construction and in final planning
Three areas are expected to receive over 35% of all rooms planned
The Washington, D.C., area is among the few hotel markets in the top 25 where the number of rooms in final planning closely matches those under construction, at roughly 3% each.