phoenix hotel market
Las Vegas, Phoenix and Florida Markets Lead U.S. Hotel Performance During Early Spring Break Period
March 28, 2023
U.S. hotel occupancy leaders and laggards in the March 2023 “bubble” chart update reinforce three key trends that began to develop late in 2022. The overall distribution of demand continues to shift away from the pandemic rural/outdoor focus back to larger urban destinations. Major markets continue to close the deficit to pre-pandemic levels. Leisure-oriented markets remain firmly rooted near the top of the national leaderboard. As we have already entered the school spring break season, we expect warmer markets near beaches to maintain their strong performance in the coming weeks. While the four weeks ending 18 Mar...
Phoenix Forecasted for Second-Highest Hotel RevPAR in Super Bowl History
STR | February 9, 2023
HENDERSONVILLE, Tennessee—Phoenix’s hotel revenue per available room (RevPAR) is forecasted to reach $419 for February 10-12, which would be the second-highest level for a Super Bowl weekend, according to STR. The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and average daily rate (ADR) of $445. Even with 11.7% more supply in the market, a unique volume of demand is forecasted to push occupancy slightly higher than Phoenix’s last host year in 2015 (93.7%). The ADR level would rank third among host markets behind Miami in 2020 and San Francisco in 2016. “Phoenix...
