michael smithson
Tucson Lodging Market – Recent Trends and Outlook
Brittany Hart | July 9, 2021
By Brittany Hart, Michael Smithson Historical Trends Prior to the onset of the COVID-19 pandemic, Tucson’s lodging industry was reaching new heights. After eight years of growth spurred in part by large-scale expansion at Raytheon, the relocation of Caterpillar and Hexagon to Tucson’s revitalizing downtown, and growth at the University of Arizona, performance had reached a new peak. This positive trend reportedly continued through the first months of 2020, which included the Tucson Gem and Mineral Show in February. According to Visit Tucson, this event generated $40 million in lodging revenue. However, in mid-March 20...
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...
HVS Market Pulse: Tucson, Arizona
Michael Smithson | July 23, 2018
By Michael Smithson The Tucson lodging market often lives in the shadow of its bigger sibling, Phoenix. And while meeting and group demand in both markets is driven by Arizona's idyllic weather during the winter and spring, differences in local dynamics paint significantly different pictures in terms of leisure and commercial demand. Both lodging markets experienced a prolonged recovery following the national recession late last decade, partially attributed to the controversial SB 1070 immigration law; however, the loss of MLB Spring Training in 2011 and the federal government sequestration in 2014 stalled Tucson's recovery even further...
