United States -  Denver

The Colorado Convention Center (CCC), special event and sporting complexes, tourism, government institutions, healthcare complexes, and major corporate office parks represent the primary sources of demand in the greater Denver market. Denver is also home to one of the nation's busiest and largest airports (Denver International Airport) and is a primary economic center for the Rocky Mountain region. Over the last two decades, Denver has evolved from a market that would typically achieve occupancies in the low to mid-60s into one that could reach the mid-70.0% range on a steady, year-over-year basis. In 2023, occupancy reached the 70.0% mark, similar to levels of the early 2010s but still below the peak occupancy period of 2014 through 2019. ADR, on the other hand, approached $150 in 2023, and RevPAR reached an all-time high. Factors contributing to this trend included heightened levels of high-rated leisure demand and a rebound in the commercial segment; however, lagging recovery within the meeting/group segment, coupled with the impact of new supply, resulted in an occupancy level below what was achieved from 2014 to 2019. The outlook for 2024 is favorable given continued development activity, the recent expansion of the CCC, and Denver's popularity as a tourist destination, which all bode well for growth within the lodging sector.

* Although the HVI cannot tell you what a particular hotel is worth, it does provide excellent “big picture” data, indicating which market areas are experiencing positive trends, and thus may present good investment opportunities. The HVI for the U.S. is a measure of the strength of the lodging industry as a whole and, specifically, the hospitality investment market. The HVI for the various identified markets can provide a basis to evaluate and compare different geographic regions. For more insight on the limitations and applicability of the HVI, please read the message on the HVI home page by clicking on the graphic at the top of this page.

Change In Value For Market:

Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: More than -10%

For more information, please contact:

Katy Black, MAI
Managing Director, Leader - Denver Office
Valuation, Market & Feasibility Consulting
[email protected]
  • +1 970 305-2229 (w)
Ryan Mark
Valuation, Market & Feasibility Consulting
[email protected]
  • +1 303 881-4762 (w)