Tampa-St. Petersburg Hospitality
Market Report

Group demand likely to accelerate. Tourism to area beaches and the return of major events like the Gasparilla Pirate Festival, the nation’s third-largest parade that historically attracts around 300,000 spectators, aided fundamentals in the lodging sector. The metro was one of just four major U.S. hotel markets with a trailing 12-month RevPAR measurement at or above its pre-pandemic level in January 2022. The recovery of revenue has been driven by strong average daily rate growth. For the yearlong period ending in May, ADR was roughly $159 per night, nearly 20 percent above the previous high mark. Additional revenue gains are expected during the second half, as large conferences like the Tampa Bay Comic Convention and Tampa Bay Auto Show are poised to elevate visitor volumes.