Colliers Report: South Carolina Hospitality Market Q1 2025
May 22, 2025
Colliers | South Carolina Market Report
Hospitality Market Updates
Columbia
- With occupancy, ADR and RevPAR trending upward across all classes, the Columbia hospitality market remains hot. Growing business and leisure travel sectors ensure the market is well-positioned for further growth.
Charleston
- After a record 2024 for tourism, the Charleston market largely saw momentum continue in the first quarter. Signs of softness began to emerge in March, driven by economic uncertainty, but the long-term outlook remains healthy.
Greenville-Spartanburg
- Lingering effects from Hurricane Helene contributed to sharp gains across all major performance metrics. While business travel remains the primary driver market-wide, tourism is an increasing factor as Greenville receives national recognition.
Hilton Head / Beaufort
- The first quarter remained characteristically quiet for the Hilton Head/Beaufort market. Sharp competition from overseas high-end travel, particularly driven by golf, has contributed to a resetting market as both ADR and RevPar fell year-over-year for the fourth straight quarter.
Savannah
- After a robust 2024 in which over 600 rooms were delivered and over a thousand more entered construction, Savannah remains favorably positioned. Growing tourism and convention travel are drivers, while the completion of Hyundai’s Metaplant softened construction demand.
Myrtle Beach
- The Grand Strand’s quiet winter season continued a trend of slowing demand as the market shifts towards year-round residency. Declining Canadian travel, a notable winter segment, is a trend to watch. Mixed performance and challenging financing are stalling deal flow.
About Colliers
Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 66 licensed real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina with a portfolio of over 26 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold the most professional designations of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
Colliers is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering and Investment Management – we have a proven business model, an enterprising culture and a unique partnership philosophy that drives growth and value creation. With annual revenues exceeding $4.8 billion, a team of 23,000 professionals and $99 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
