HVS Market Pulse: Greater Phoenix, AZ

Michael Smithson | August 21, 2018

By Michael Smithson Following several years of strong RevPAR growth leading up to Super Bowl XLIX in 2015, growth in the Phoenix market has slowed somewhat. ADR growth was modest in 2016, as much of the market experienced a post-Super Bowl correction, but ADR rebounded in 2017. Occupancy growth has remained relatively modest since 2016, slowing even more in 2017 but remaining positive. Year-to-date data through May 2018 illustrate modest increases in both occupancy and ADR, resulting in moderate RevPAR gains. Phoenix Market Performance Source: STR The introduction of new supply has contributed to slowing RevPAR growth over the past cou...