U.S. Hotel Figures Q4 2019
Hotel Demand & Supply Growth On Par at 2%
- Hotel demand grew 2.0% nationally in Q4 2019, about 0.2% more than in Q2 on a year-over-year basis. Supply grew by 2.1%.
- Denver, boosted by several new hotel developments and rebounding from a 2018 season affected by wildfires, had the largest year-over-year demand increase (9.4%). Large gains also occurred in Austin (8.0%) and Houston (7.2%).
- National occupancy decreased 0.1% year-over-year to 61.8%.
- ADR grew by 0.7% year-over-year in Q4. RevPAR also grew by 0.7%, a slower pace than the 2.4% of a year ago but 0.1% higher than the previous quarter.
- 38 of the 60 markets tracked by CBRE Hotels' Americas Research had supply gains of more than 2% in Q4, five more than in Q3.
- 22 markets had declines in occupancy in Q4, eight fewer than in Q3.
- Albuquerque had the highest RevPAR gain (8.7%), driven by a nearly even split of occupancy and ADR growth. San Francisco (7.4%) and Oahu (7.1%) also had high RevPAR gains.
- Of the top 10 markets for RevPAR growth, half had increases driven primarily by ADR growth and half by increasing occupancy.
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
