United States -  Seattle

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 (2022 was a record-breaking cruise season). Seattle tends to achieve occupancy levels in the low-to-mid 70s during strong and stable economic periods. 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. Factors contributing to this trend included Boeing's $1.2-billion U.S. Air Force contract, which was signed in February 2023, and continued improvements to leisure attractions, such as the Seattle Waterfront and Climate Pledge Arena. Seattle's convention center expansion (known as the Summit) opened in early 2023, doubling the city's capacity to host convention events. The outlook for 2024 is favorable due to anticipated events such as various new art exhibitions, concerts at Climate Pledge Arena, and the summer opening of the Ocean Pavilion at the Seattle Aquarium. Moreover, Seattle will be one of 16 North American destinations to host the FIFA World Cup in 2026.

* 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:

Eileen Bosworth
Valuation, Market & Feasibility Consulting
[email protected]
  • +1 716 622-0111 (w)
Kasia Russell, MAI
Executive Vice President, Development
Hotel Management, Consulting & Valuation
[email protected]
  • +1 970 227-7799 (w)