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Market Report

St. Louis Hospitality Market Report

Midyear 2023

Downtown’s Hotel Recovery Taking Off as Full-Service
Improvements Reflect Broadening Travel

Full-service bookings pick up pace as mid-tier recovery solidifies. In the two years leading up to the pandemic, St. Louis welcomed a new aquarium downtown, while the Gateway Arch completed a major renovation. The addition and update are now helping to drive hotel room demand as bookings in St. Louis continue to climb. Progress has been most apparent among upper midscale hotels, the metro’s largest lodging segment. Such reservations are now above the pre-pandemic mark, in contrast to other classes. Harder-hit, full-service hotels have been slower to recover, but are picking up momentum this year. Room demand in this segment is projected to increase by about triple the overall metro pace in 2023, helping narrow post-pandemic occupancy shortfalls. While leisure travel is an important part of this gain, the later recovery of higher-tier hotels is also a reflection of improved group and business trip demand.
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