Hotel Market Update: Denver, Colorado
By John Montgomery on February 7, 2017
Extract of our Denver, Colorado, Hotel Market Update
Four times in the last six years, Horwath HTL has been requested to prepare a Market Focus report for Metro Denver, Colorado. Per that request, this current report presents the realities that exist today in the Metro Denver marketplace.
The hospitality industry in Metro Denver has experienced dynamic growth in terms of occupancy and average room rate in recent years – five to eight years ago, it was a much different story. Occupancy trends for year-end 2016 indicated that the current market had reached stabilization in terms of occupancy. This stabilized occupancy level encouraged increases in the average room rate as well as a series of new and/or under-construction hotels in Metro Denver.