CHICAGO, IL. – The Denver region will see their total supply of hotel rooms grow to 45,000 by March of next year as 19 hotels are slated to open over the next 12 months. Growth in the Denver area comes out to a 6.66% increase in hotel room supply, a mark that outpaces the 3.48% projected national growth rate in room supply by Q2 2017.
According to the HMD Index, the supply of luxury rooms within the Denver region is expected to increase by 31.17% over the next 12 months as the city anticipates the opening of Sage Hospitality's 155-room Halcyon – a Hotel in Cherry Creek this summer, as well as the 100-room Source Hotel in early 2017, which features a 10-barrel New Belgium Brewing brewery inside.
By March 2017, IHG (NYSE: IHG) will likely see the greatest gain in franchise hotel room supply with an 8.83% growth rate, while Hilton Worldwide (NYSE: HLT) will expand its room supply in the Denver region by 6.40% over the next 12 months.
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