Hotel values in St. Louis are rising, and RevPAR reached a new high in 2015. A rise in convention bookings, along with expansion efforts aimed at drawing more leisure demand, provide for an optimistic outlook for the city’s hotel industry.
$2.5 billion in projects are under development across multiple economic sectors, including tourism, in St. Louis. The return of commercial and leisure demand, along with rising average rates, should speed recovery for the city’s hotels.
Awards for quality of life and career development have graced the Twin Cities in recent years, and a growing number of global corporations have established operations in the area. How do hotels stand to benefit from Minneapolis’ economic resurgence?
St. Louis’ job losses in manufacturing have been mitigated by stable financial, government, education, and healthcare sectors. How has the recession impacted area hotels, and what will it mean for the future of this market?