Colliers Report: Activity slowed, but still healthy, following tourist season
November 17, 2021
Commercial Real Estate Research & Forecast Report
Q3 2021 South Carolina Hotel
Market Highlights
Leisure and transient travelers helped boost South Carolina hotel activity and bolster the hotel market to nearly pre-pandemic levels. High volume activity will continue pick-up during the fourth quarter, boosted by holiday travel. The greatest challenge hoteliers continue to face is meeting high demand with limited staff.
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Key Takeaways
- Occupancy, ADR and RevPar rates are a little lower than the peak summer season but are still strong
- Hotels construction in SC remains active with fluid delivery dates, as logistics trying to recover and catch up with the pent up demand
Summary
Transactions remained steady in South Carolina hotels during the third quarter because buyer interest is focused on secondary and tertiary markets for their stability. South Carolina is an attractive hotel market for investors because of its steady activity and robust tourism seasons.
