Nashville Hotel performance
Nashville Q2 2023 Lodging Update
Marc Greeley | April 10, 2023
By Marc Greeley Nashville hotels recovered substantially over the last twelve months, as corporate and meeting and group demand bounced back in 2022 following slower growth in the year prior. In the same period, ADR reached unprecedented peaks across the Nashville market, buoyed by less price sensitivity among travelers and new luxury hotels, the latter becoming a strong focus for investors. Moving forward, rate growth will likely moderate, as negotiated group and commercial rates normalize overall rate levels; however, as the rate ceiling continues to rise and demand returns, hoteliers are unlikely to discount rates. Nashville 2023–2...
Pandemic in the Rearview: Nashville’s COVID-19 Impact and Recovery
HVS | July 27, 2021
The COVID-19 pandemic was an unprecedented setback in Nashville’s growth, particularly within the lodging, convention, and tourism industries, similar to trends across the nation. According to STR, occupancy levels declined by 44% in 2020, while ADR contracted by 30%. This culminated in the lowest hotel performance metrics since STR began collecting data, with RevPAR dropping an extraordinary 61% in 2020. Full-service downtown hotels realized more precipitous drops in performance; occupancy levels plummeted to a low of roughly 27%, reflecting a 66% drop from 2019. ADR for these hotels contracted less substantially, ending the year down 17....
