Anchorage, Alaska: Hotel Market Trends and Conversions to Housing

Breanna S. Smith | November 6, 2023

By Breanna S. Smith Prior to the pandemic, the Anchorage hospitality market was in a period of expansion. The market was historically reliant on natural resource (oil and gas) extraction. Demand increases in the years prior to 2020 were supported by the market’s popularity as a tourism destination, largely centered around the cruise industry, and growth in the transportation industry. However, similar to trends across the nation, the COVID-19 pandemic resulted in substantial declines within the tourism industry beginning in March 2020. While much of the state’s commercial business remained essential, tourism was substantially affected,...