Maine State Area - 2024 Q3

This report analyzes the Maine State Area lodging market for 3Q 2024. Bangor, a key economic driver, shows promise in healthcare and education job growth, but faces demographic challenges. The overall market is ranked below average nationally, impacting investor confidence. Performance varies across hotel classes, with Economy and Midscale performing strongest, while Luxury and Upper Upscale face challenges. Occupancy, ADR, and RevPAR trends are detailed for each class, revealing shifts since 2019 and overall performance. University enrollment and demographic trends are also analyzed as factors influencing the market's future. Click here to view a shortened preview of the report.