Colorado Springs has long stood as one of Colorado’s most popular drive-to leisure destinations during the peak summer months. Government entities and related contract business have also supported strong lodging dynamics. While disruptions within the government segment over the past year have resulted in uncertainty for the near term, the long-term outlook remains optimistic.

Downtown has historically lacked the inertia to overcome economic conditions to transition to a new identity worthy of this city’s rich history. The City for Champions and urban renewal initiatives could be the impetus needed for revitalization.

Institutions ranging from Olympic centers to major military bases underpin the economy of Colorado Springs. Tourism brings additional demand to area hotels, which have noted improvements in transactions and performance over the past year.

Wildfires ravaged lives and infrastructure on the northwest of Colorado Springs, setting off a scramble for hotel rooms. As the city rebuilds, major projects—including multimillion-dollar hotel renovations—aim to put the local economy back on track.

Colorado Springs’ hotel industry has been in business for more than a century, with a wide spectrum of entities driving demand. The market wasn’t hard hit by the recent recession, and major events this summer should bode well for local hotels.