Grand Rapids-Michigan West - 2024 Q3

Grand Rapids-Wyoming, MI is experiencing economic stagnation with flat job growth, though revisions suggest better performance in public and finance. Manufacturing remains a significant employer, with future investments in biotech and healthcare expected to boost demand for lodging. The area's rental market is becoming more affordable, potentially attracting new residents. While some young adults are leaving, the out-migration rate is slowing. The overall hotel market ranks in the 48th percentile nationally, with varying performance across classes, from luxury to economy. Occupancy, ADR and RevPAR data are provided by class. Click here to view a shortened preview of the report.