Norfolk-Virginia Beach, VA - 2025 Q1

The MarketCompass Lodging Report for 1Q 2025 analyzes the Norfolk-Virginia Beach, VA lodging market, ranking it in the 19th percentile nationally. The region benefits from a strong economy driven by manufacturing, logistics, and leisure/hospitality, bolstered by defense allocations and port investments. Despite job growth and a low unemployment rate, the area faces challenges including population decline and a reliance on federal aid. The report details key metrics like occupancy, ADR, and RevPAR for various hotel classes, highlighting investment rates, CRE performance, and brand representation within the market. It forecasts influences on market strategies throughout 2025. Click here to view a shortened preview of the report.