Columbia, South Carolina's hospitality asset class has seen significant improvement in most major categories, the latest report from Colliers finds.
Overall occupancy in the state's capital ended 2024 at 71.2 percent, up from the 58.3 percent in the previous year. Revenue per available Room (RevPAR) spiked to $84.95, from $63.06, while daily rates reached $119.26. The demand caused by Hurricane Helene helped drive the performance, while some can be attributed to developments in Scout Motors.
"Manufacturing project growth centered on Scout Motors continues to bolster demand from construction employees in economy and midscale extended stay spaces," Colliers wrote.
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