2021 Q1 Hotel South Carolina Report
- Vaccine distribution will likely normalize travel this year and boost hotel activity
- South Carolina hotel submarkets are recovering with anticipated increased activity during the second and third quarters
- COVID-19 Relief Bill provided financial stabilization to hotel properties
Following a year of travel bans and quarantine, and as the vaccine is widely distributed, people are ready to travel for work functions and to vacation destinations, and South Carolina is a hot spot for tourism. Sales have been recently concentrated in economy and mid-scale hotels; however, increased activity and revenue will increase transactional activity within all classes. The overall occupancy rate of 58.6% is higher than it was one year ago and RevPar and ADR continue to increase as vacation season approaches and travel normalizes.