HVS Highlights Raleigh Hospitality Growth

Raleigh, North Carolina — August 14, 2023

In short: Raleigh’s hotel market continues strong growth despite new supply, with demand outpacing additions.

Raleigh Hotel Market Outlook 2023

Raleigh’s Hotel Market Outlook Remains Strong
According to the HVS Market Report, Raleigh’s hotel market outlook remains strong, supported by its role as North Carolina’s capital and its education, healthcare, and manufacturing sectors. Demand, ADR, and RevPAR continue to rise despite new supply additions, with demand growth outpacing new supply. Major convention, mixed-use, and healthcare developments are contributing to this momentum.

Key Details

• Demand Growth: Demand growth outpaces new supply additions.
• Sector Strength: Supported by education, healthcare, and manufacturing sectors.
• Major Developments: Includes convention, mixed-use, and healthcare projects.

What Travel Professionals Should Know

TMCs Managing Raleigh Accounts: This strong demand and rising RevPAR mean TMCs managing Raleigh accounts should focus on optimizing inventory and pricing strategies to capitalize on the growing market. The influx of new mixed-use and healthcare developments suggests a sustained demand for diverse hospitality offerings, warranting attention to location-specific amenities and services.

Frequently Asked Questions

What is the hotel market outlook for Raleigh?
The HVS Market Report indicates a strong and growing market in Raleigh, with demand outpacing new supply.

Which travel trade segments does this affect?
This primarily affects TMCs, hoteliers, and travel trade professionals managing accounts in Raleigh, as well as suppliers of hospitality services in the region.

When does this outlook apply?
The outlook is based on current trends as of August 2023, with no specific future date mentioned in the source.

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