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Phoenix Hospitality Market Report | Investment Forecast

Phoenix's hotel market is experiencing a construction boom, with a record 3,650 new rooms slated for 2024. Investor interest remains strong as demand keeps pace, driven by major events like the NCAA Final Four, Waste Management Open, and the new Mattel Adventure Park. This sustained demand allows for premium pricing, making Phoenix hotel assets highly desirable.

West Phoenix and Scottsdale lead the construction surge, with a focus on upscale developments. Chandler is also seeing increased investor interest due to its downtown development. Despite the supply growth, Phoenix hotels are poised for record occupancy and RevPAR in 2024, underscoring the potential for lucrative investment returns.