Seattle is home to a diverse set of economic industries, including aerospace and defense, high technology, transportation and logistics, telecommunications, education, and health care. It is also a popular leisure destination, especially during the peak summer months; moreover, the city benefits from significant hotel demand related to the cruise industry, and 2023 was a record-breaking cruise season. In 2023, occupancy surpassed the 67.0% mark, reflecting strength but remaining below pre-pandemic levels. ADR, on the other hand, surpassed the $175 mark in 2023, an all-time high. Seattle's convention center expansion (known as Summit) opened in early 2023, doubling the city's capacity to host convention events. Microsoft plans to host all future meetings at Summit, further solidifying the company's commitment to Seattle. Positive momentum continued in 2024, as leisure demand was bolstered by the opening of the Ocean Pavilion at the Seattle Aquarium, as well as cruises, concerts, and sporting events. Seattle continues to outperform its West Coast counterparts, as RevPAR growth in 2024 neared 7.0%. Looking forward, Seattle will host NCAA basketball events in 2025 and will be one of 16 North American destinations to host the FIFA World Cup in 2026. Furthermore, Amazon has mandated a full-time in-office work policy, which became effective January 1, 2025.
* 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.
The widespread impact of the coronavirus (COVID-19) has had an unprecedented impact on hotels and hotel values worldwide.
Consequently, the latest HVI analysis may no longer reflect the most current measure of lodging industry strength or the
hospitality investment market.
In each of our offices across the globe, we are working tirelessly to analyze the impact of recent events and provide timely
insights to help you navigate these uncharted waters. Because it is unclear how long the pandemic will last or how long related
restrictions will be in place, we are updating our analyses on a weekly basis using the most current data.
Additionally, examination of value trends in prior cycles can provide useful information. Historical patterns, together with
an understanding of the market’s current expectations for the eventual recovery of the industry and its performance, can provide
insights on the likely trajectory of decline and recovery for hotel values.
For the Latest Information and Analysis on the Impact of COVID-19Click Here
If you’d like to speak to someone personally to review details of our most current analysis, please don’t hesitate to contact
us directly.
ADR, Demand, Occupancy, RevPAR, and Supply Projections:
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|
|
| ADR Change
|
|
|
| Market Demand Change
|
|
|
| Hotel Occupancy Increase/Decrease
|
|
|
| RevPAR Change
|
0.0%
|
0.0%
|
| Market Supply Growth
|
Change In Value For Market:
Legend
| Significant Value Increase:
|
Greater than +10%
|
| Moderate Value Increase:
|
Between +3% and +10%
|
| Stable Values:
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Between -3% and +3%
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| Moderate Value Decline:
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Between -3% and -10%
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| Significant Value Decline:
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More than -10%
|
Seattle RevPAR
| Year |
RevPAR |
| 2008 |
$86.05
|
| 2009 |
$69.21
|
| 2010 |
$72.24
|
| 2011 |
$78.69
|
| 2012 |
$85.62
|
| 2013 |
$92.41
|
| 2014 |
$104.01
|
| 2015 |
$113.16
|
| 2016 |
$116.57
|
| 2017 |
$122.75
|
| 2018 |
$122.60
|
| 2019 |
$128.79
|
| 2020 |
$133.98
|
| 2021 |
$
|
| 2022 |
$
|
| 2023 |
$
|
| 2024 |
$
|
| 2025 (f) |
$
|
| 2026 (f) |
$
|
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