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.
New York City's hotel transaction activity likely to remain muted in fourth quarter
Two trades make up almost 50% of sales volume to date
Sales volume for New York City was materially down during the first nine months of 2024, recording a 50% decline over the same timeframe in 2023. Activity is expected to remain mut...
New York City’s existing supply and pipeline is flooded with independent hotels
Luxury accounts for largest share of inventory in the class
Independent hotels in New York City maintain a prominent position: They account for roughly 38,000 rooms, or 32%, of the existing room inventory.
Hotel sales activity continues to drop in Florida
A wait-and-see approach still holds for large investment decisions
The slow pace of sales activity in Florida last year has carried into 2024. Thirty-five hotels over the $10 million mark traded within the first eight months of 2024 for an aggrega...
A Look at Rate Differences Between Group and Transient Segments in Three Major Hotel Markets
NYC, Washington, D.C. and Miami Still Have a Long Way To Go To Align With Historical Norms
Group hotel rates have not followed the strong growth in transient rates over the last couple of years, and as a result, a large differential between the two is present. Group dema...
Migrant-Related Supply Reductions Have Been a Strong Tailwind in NYC Hotel Performance
Three Areas Outside Manhattan Showcase Strongest RevPAR Growth
More than 200,000 migrants seeking shelter had arrived in New York City as of August 2022. Given that New York has a legal obligation to provide shelter to anyone who asks, by 2023...
Orlando Expands Luxury Offerings With New Hotels in Final Planning
International Drive and Orlando Central Submarkets Are Adding Three Luxury Hotels
Orlando occupies the eighth spot among the top 25 hotel markets tracked by CoStar for its pipeline of rooms under construction. The metropolitan area has 4,240 rooms underway acros...
Potential Distress for Washington Hotels with CMBS Loans is Growing
Clock Is Ticking for Capital-Starved Hotels in DC Submarkets
According to CMBS data for the Washington, D.C., region, some distressed deals may start transpiring. Out of the 55 properties tied to CMBS loans maturing by December 2025, five ar...
Most Anticipated Luxury Hotel Openings in Tampa
Clearwater and Tampa’s Riverwalk Add More Luxury Hotels
Tampa showcases a strong pipeline of rooms under construction, occupying the eighth place among the top 25 hotel markets tracked by CoStar. The Tampa region has about 2,000 rooms u...
A Closer Look at the Three Largest Hotels Underway in New York City
Big Gap Between Rooms Under Construction and Those in Final Planning
New York City has the largest pipeline of rooms under construction among the top 25 hotel markets tracked by CoStar's hospitality analytics firm, STR. The region has 8,753 rooms un...