Hotels in Downtown Atlanta Benefit From Increased Business Travel
Occupancy Forecast to Fall in 2024 Due to New Supply
Downtown hotels experienced the fastest growth in demand and revenue per available room in Atlanta last year.
New-to-Market Brands Highlight Miami’s Hotel Pipeline
Room Completions More Than Double From 2023 to 2024
More than 1,100 hotel rooms are under construction and expected to open in Miami this year, up from 423 room openings in 2023.
Hotel Sales in Washington Look To Rebound in 2024
Higher Interest Rates Shift Transactions to Lower Price Points
Hotel sales in Washington, D.C., failed to accelerate in 2023 despite strong growth in the market’s hotel metrics. But a modest uptick in sales late in the year could foreshadow a ...
Miami Hotel Occupancy Higher on New Year’s Eve, but Average Rates Fall
Both Occupancy and Rates Declined in Orlando, Tampa
New Year’s Eve 2023 in Miami was an even bigger party than the previous year.
Downtown Savannah Offices Slated for Hotel Conversions
Georgia City's Booming Tourism Industry Yields Interest From National Investors
Many office markets around the country are struggling to contend with a glut of aging, hard-to-fill office space. That isn't the case in Savannah, Georgia, a city that boasts one o...
Hotel Prices Fall in Atlanta as Interest Rates Weigh on Sales
Sales Shifted to Economy and Midscale Hotels
Hotel sales in Atlanta slowed sharply in 2023 due to the U.S. Federal Reserve’s interest rate hikes and the adoption of tighter lending standards by many financial institutions. Th...
Miami Beach Hotel Rates and Revenue Soar During Art Basel
Event Impacts Fell Short of 2022 Levels
The annual Art Basel fair at the Miami Beach Convention Center earlier this month lifted hotel average daily rates and revenue per available room in Miami Beach to their highest le...
Softening Hotel Performance in Florida Contrasts With Strong Growth in Caribbean
Travel to Caribbean by US Residents at an All-Time High
Strong growth in Caribbean hotels may be contributing to declining hotel metrics in Florida.
Travel-Related Employment Grows in Orlando While Construction Lags
Accommodation Employment Is Below the Industry’s Pre-Pandemic Peak
Orlando’s robust travel sector is producing strong employment growth. Air transportation led all industries with an 11% increase in October employment compared to the same time las...
Washington, DC, Leads US Top 25 Hotel Markets in Growth
Weekday Performance Has Improved Despite Little Change in Office Utilization
Revenue per available room in Washington, D.C., was up 21% year over year through October, the fastest growth this year among the top 25 markets. For comparison, RevPAR was up 9% f...
Hotel Demand in Orlando Falls Despite Record Airport Traffic
Population Growth in Central Florida Spurs Passenger Growth
Hotel demand in Orlando has weakened throughout 2023, but passenger traffic at Orlando International Airport, or OIA, has surpassed prior year levels every month this year.
Charlotte Job Growth Shifts to Hospitality and Healthcare Sectors
Professional Services Jobs Show First Year-Over-Year Decline Since 2021
The Charlotte, North Carolina, market continued to add jobs in October. But a closer look at the distribution of those new jobs provides better news for hoteliers and restaurateurs...
Hotel Construction Slows Nationwide but Surges in Orlando
New Universal Theme Park Spurs Hotel Development
The number of hotel rooms under construction in Orlando has increased nearly 40% compared to the same time last year, while construction in the hotel industry overall has slowed. M...
Cities Opt To Finance Hotel Development Due to Debt Market Challenges
Public Financing of Hotels Justified as Maximizing Economic Value of Convention Centers
A $276 million expansion that will double the capacity of the Savannah Convention Center is set to open in early January 2024, but no progress has been made on plans for a 400-room...
Hotel Construction in Charlotte Drops 40% From Prior Year
Challenging Debt Markets Cause Projects To Pause in Final Planning
The number of hotel rooms under construction in Charlotte has fallen more than 40% over the past year, from nearly 1,350 rooms to 780. Meanwhile, rooms in final planning have ballo...
Business Travel Boosts Hotel Performance in Atlanta
Lower Weekend Occupancies Suggest Leisure Travel Is Weakening
Atlanta's hotel industry is benefiting from an increase in business travel, including travel related to convention and group meetings. But there are some indications that leisure t...
Pace of Hotel Construction in Indianapolis Fastest Among Large Markets
Publicly Financed 800-Room Hotel Under Construction in Indianapolis
Indianapolis has more rooms under construction, as a percentage of the market’s existing inventory, than the 40 largest hotel markets. The nearly 2,800 rooms under construction rep...
Convention Center in Orlando To Expand
Expansion Aimed at Helping Maintain Florida City's Position as a Top Destination for Meetings
Regional officials approved a $560 million expansion of the Orange County Convention Center in Orlando, Florida, with construction starting as early as next year and completion exp...
The Most-Anticipated Hotel Openings for the Remainder of 2023
More New Hotels To Open This Year Than in 2022
In the U.S., more new hotels are expected to open this year than last year, despite the number of hotel rooms under construction essentially flat-lining over the past year. If all ...
New Hotel Rooms Outpace Demand Growth in Downtown Miami
Key Performance Indexes Decline Despite Higher Demand
More than 1,500 rooms opened in downtown Miami in 2022, the most ever in a single year, and hotel metrics indicate the area is still working to absorb the surge of new rooms.