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Market Report

Charlotte Hospitality Market Report

Midyear 2022

Remote-Worker Visits to Main Offices Aid Historical Demand Figures;
Leisure Travelers Piling into CBD

Visiting professionals making use of Charlotte hotels. By the end of 2022, Charlotte is anticipated to eclipse its record peak for annual nightly stays. The metro is already off to a hot start, with more than 3.9 million room nights booked in January through May, slightly improving over the equivalent period in 2019. With over 43,000 remote employees just between Wells Fargo and Bank of America’s Charlotte payrolls, hotel demand has surged as professionals are being called to visit the metro’s offices for work excursions and meetings. As Charlotte is expected to reach a record high in its traditionally office-using workforce by December, mandatory visits for remote workers are likely to pick up. Additionally, a 20-year-low unemployment rate in May suggests that firms will recruit from outside the market more frequently when filling open positions. This has the potential to increase hotel demand as prospective hires visit Charlotte. 
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