Naples Hospitality Market Report
Market Overview
The Naples hotel market contains nearly 7,700 rooms distributed among 70 properties. Bigger hotels dominate the market, a trend less common in markets with fewer accommodations available. On average, properties in this market boast around 110 rooms, surpassing the U.S. average.
More than 40% of Naples hotel rooms are classified as luxury or upscale, a proportion found in less than five U.S. hotel markets.
Market Performance
Naples’ trailing 12-month occupancy stands at 66.1%, slightly surpassing the national average of 62.9%. The 12-month RevPAR saw a decline of 6.0%, which is notably different from the national trend, where RevPAR increased by 3.5% year-over-year
Construction
The construction pipeline is bustling with activity. The 1,100 rooms currently being built in the Naples market indicate a 14.7% increase in the existing inventory. While this isn’t the first construction activity in recent years, it marks a shift from the overall trend. In particular, the inventory has decreased over the past three years, with demolition surpassing new construction.
Sales
Over the last 12 months, only five transactions have been completed, a figure lower than the recent average for one of the less actively traded hotel markets in the U.S.
To read a Naples Industrial Market Report, click here.
