Portland Hospitality Market Report

City center most prepared for supply wave. While the pace of inventory growth in 2025 will be highest in areas west of Portland’s core — driven by a group of new hotels in the Beaverton area — the highest volume of keys will deliver in the CBD this year. Here, new supply is expected to stay relatively in balance with demand. Set to partially open in fall 2025, the James Beard Public Market will reinforce the metro’s culinary reputation and drive tourism to the downtown core. Some broad and localized risks to travel demand remain, however. The burden of tariffs may also steer guests toward more value-friendly hotels, which could mark a shift in performance after the past three years when higher-end hotels outperformed other tiers. Downsizing in the local semiconductor industry and chilled venture capital activity may lead to a less active period for business travel.