Seattle Hotel Market Report

Over the past five years, hotels in downtown Seattle achieved high rates of occupancy and rapid increases in room prices. This positive performance sparked the interest of hotel developers and was the catalyst for several projects. With nearly 2,500 new rooms opened in Seattle in the past 18 months and 1,600 rooms under construction, conditions now appear to be softening. It’s safe to expect, based on year-to-date results, that occupancy rates in the downtown core will decline despite continued growth in demand.