Tampa-St. Petersburg Hospitality
Market Report

Tailwinds lead to outperformance in select corridors. While Tampa-St. Petersburg is expected to record further occupancy declines in 2026, the metro remains comparatively well positioned. Among major markets, occupancy ranked seventh closest to its 2019 year-end level as of early 2026, despite noting a 300-basis-point decline last year. Similarly, although the limited-service segment posted one of the steepest occupancy pullbacks in 2025, it still retains the narrowest gap to its 2019 benchmark across service levels locally heading into 2026. Taken together, these trends suggest the metro is normalizing after several years of pandemic-era and hurricane-induced demand distortions rather than a structural weakening in fundamentals. The submarket spanning Downtown-Tampa International Airport (TIA)-Interbay Peninsula is well positioned in the near term after recording minimal demand deterioration in 2025, with scant deliveries scheduled for 2026. A record number of anticipated attendees at the Tampa Convention Center, coupled with expanded nonstop international air service that started in 2025 at TIA, should help sustain bookings here.