United States -  Tampa - St Petersburg

The Tampa-St. Petersburg market benefits from beaches along the Gulf Coast, as well as corporate and institutional demand generators. The meetings and conventions sector is strong in this market, with events hosted at the Tampa Convention Center downtown and at area hotels. The Raymond James Stadium and other venues host major special events, as well. Over the last two decades, Tampa-St. Petersburg has evolved from a market that would typically achieve occupancies in the 60s into one that could surpass 70.0% on a steady, year-over-year basis. In 2023, occupancy remained in the low 70s, reflecting strong performance for this market. ADR surpassed the $170 mark in 2023, and RevPAR reached an all-time high. Factors contributing this trend included ongoing development in the financial services and technology sectors, the popularity of the market as a meeting/event destination, and the entrance of high-quality new supply in the greater market. The outlook for 2024 is favorable, and the diversity of the local economy and a robust development pipeline should support the strength of this market going forward. As such, the long-term outlook for the market remains positive. 

* 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:

Hannah McManus
Valuation, Market & Feasibility Consulting
[email protected]
  • +1 410 967-8879 (w)