Marcus & Millichap

Northwest Hospitality Investment Forecast

First Half 2019

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National Parks Bring Wave of Tourism Spending to Wyoming, Montana

Recreational activities attract tourists to smaller locales while supply pressures mount in larger markets. Numerous parks and recreational activities will continue to lure tourists to Wyoming and Montana as social media platforms and tourism campaigns highlight local attractions. Wyoming, in particular, registered an increase in occupancy last year amid strong visitor spending. The upward trend should continue through 2019 as the state launches a new tourism campaign highlighting 150 years of women’s suffrage to attract more female travelers. On the other hand, supply pressures are mounting in Washington and Oregon, particularly in the major markets of Portland and Seattle. Both metros have more than 6.5 percent of their total room inventory underway, which will likely continue placing downward pressure on occupancy rates and stalling RevPAR growth in each market this year. Overall, strength in Wyoming and Montana should outweigh supply pressures in Washington and Oregon, supporting an uptick in regional occupancy.

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