St. Louis Hospitality Market Report

Long-term prospects remain positive despite occupancy drop. Post-pandemic recovery has held steady in St. Louis. Accounting for almost half of total room inventory, select-service hotels have performed particularly well, standing to make additional revenue and occupancy gains through 2025. Occupancy in upper-midscale hotels, in particular, may climb to within 20 basis points of the 2019 level, as rising costs generally draw some bookings from higher-service hotels. A 150-basis-point drop in full-service occupancy will translate into a slight reduction in the metro’s overall occupancy this year, despite the limited delivery schedule. America’s Center Convention Complex completed Phase I of its $240 million expansion last year, with Phase II expected to conclude in the first half of 2025. This development opens the door for a resurgence of event bookings stunted by last year’s construction. As renovated and expanded facilities draw new clients, occupancy in the CBD could climb.