X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The hotel market in Tempe is surging. Last year, hotel room rentals were up by 250,000 rooms over 2017, according to research from the Tempe Tourism Office. Hotel sales totaled $175 million, a 12% year-over-year increase and a $36 million increase over 2016. Demand for hotel space in Tempe has been steadily increasing in pace with office and population growth. In 2018, new hotel supply helped the market to achieve these significant gains.

“We have had a lot of demand for a long time, but our supply has not been enough to meet that demand,” Maria Laughner, economic development specialist at the Tempe Tourism Office, tells GlobeSt.com. “In 2018, we finally had enough new hotel supply to meet the demand. We had 600 new hotel rooms come online last year, and another 500 are in the pipeline to come online this year. That is just in the Downtown area.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.