Seattle Hotel Market Report

Lodging markets in and near Seattle recorded modest growth in demand during 2018, though in some cases this growth was more than offset by additions to the competitive supply. Room prices edged up slightly, but occupancy rates declined in several submarkets. Over 3,300 rooms opened during 2018, and nearly 2,400 more were under construction at year-end. As the full impact of the new hotels becomes apparent, we are projecting further weakening in occupancy accompanied by stable or declining room rates.