Jacksonville Hospitality Market Report

Construction wave hits the metro. This year marks the largest supply expansion in the market since 2008. Most new development is condensed in the western and southeastern suburbs. The mix of new properties reflects a focus on value, as limited service room-night stock is set to grow 5.7 percent year over year, select service 120 basis points less and full service just 1.8 percent annually. While 2025’s abrupt shift up in supply will weigh on occupancy in the short term, demand for budget lodging may pick up too, given potential inflation pressure from tariffs. The demand outlook is also encouraging downtown. Last year, the owners of the Jacksonville Jaguars agreed upon a plan to renovate Everbank stadium. Finishing in 2028, this plan will keep the team in the city for the next 30 years, maintaining a much-needed anchor in the core while also building upon an existing tourism draw.