Nashville Hospitality Market Report
Major Events and Increased Dining Support
Headlining Revenue and Supply Growth
Visitor count exceeds pre-pandemic volumes. Pent-up demand for leisure travel is pouring into the Music City. From July 2021 through June 2022, traffic through Nashville International Airport increased by 7 percent when compared to the equivalent span ending in June 2019. The return of the Bonnaroo and CMA music festivals this year brought in an estimated 120,000 fans to Nashville. Additionally, the re-opening of the Schermerhorn Symphony Center and the metro's vast number of bars and restaurants are drawing visitors to its well-known SoBro district. Heightened visitations lifted average annual occupancy 2,350 basis points to 66 percent during the 12-month span ending in May. This growth nearly doubled the national pace; as such, the metro recorded the third-highest ADR and RevPAR growth among major U.S. markets during the span.