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Market Report

Detroit Hospitality Market Report

Midyear 2023

Occupancy Continues to Climb, but Room Additions
Mitigate the Positive Impact of New Events

Ford Field fills its calendar, enabling occupancy gains. Hotel occupancy in Detroit has faced a slow road back to pre-pandemic norms; however, the rate is continuing to steadily inch up in 2023. Despite the metro’s sluggish recovery, Detroit’s occupancy gains will outpace most major Midwest hospitality markets with the second-greatest basis point jump this year. This progress can be attributed to a resurgence in annual festivities, as well as new events. Ford Field alone boasts a slew of activities expected to draw out-of-town crowds. The Detroit Lions expect Ford Field will host the most concerts in a single calendar year during 2023 since its opening. In June, the stadium hosted Taylor Swift and is a stop on Beyoncé’s tour later this summer. Additionally, the WWE’s second-biggest event of the year, SummerSlam, took place here in August. The large slate will extend into next year as the 2024 NFL Draft comes to town. 
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