Seattle-Tacoma Hospitality Market Report
Packed Summer Schedule Bolsters Hotel Revenue Prospects;
CBD Leads Metro in KPI Growth
Seasonal tourism surges; yet, there may be even more coming. Throughout 2022, Seattle’s hospitality sector is anticipated to register the third-highest RevPAR and ADR growth rates in the nation, led by a strong schedule of returning events. The Capitol Hill Block Party, Solstice Parade and Seafair Festival are all set to return this summer after two-year hiatuses, drastically heightening hotel demand over the weekends they are staged. During the months of June through August, Seattle hotels are expected to average a daily rate of $198.65, exceeding the equivalent span in 2019 by 5 percent. Still, hotel demand this year may exceed these projections, given the recent lifting of COVID-19 testing requirements for international travelers. Seattle has historically been a popular destination for this group, and visitations could elevate overall annual visitor volume beyond current expectations.