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Market Report

Riverside-San Bernardino
Hospitality Market Report

Midyear 2023

Hoteliers Respond to Local Economic and
Population Growth Prospects with Historic Pipeline

Localized expansions necessitate additional rooms. In April of last year, the Inland Empire’s trailing 12-month occupancy rate matched its immediate pre-pandemic recording. This recovery, along with several long-term growth prospects, has prompted a refilling of the sector’s development pipeline. Construction was underway on more than 20 hotels across the metro as of July, properties that collectively comprised roughly 2,260 rooms. Fortunately, this historically large pipeline is well dispersed, with 425 to fewer than 630 rooms underway in four of the metro’s five submarkets, the exception being Ontario and the airport area. While these projects will notably increase room inventory, household growth projections for the next five years suggest the number of individuals and families that visit friends and relatives living in the Inland Empire will rise, a boon for lodging operations. The metro’s status as an ever-growing industrial hub should also foster long-term room demand among truckers. 
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