Richmond-Petersburg, VA - 2024 Q3

The Richmond-Petersburg, VA lodging market is analyzed in this report, covering the third quarter of 2024. The local economy is supported by government, healthcare, and technology sectors, while the financial industry faces challenges. The market is underperforming compared to the top 110 US hotel markets, with varied performance across different hotel classes. Luxury hotels are performing well in recovery and pricing, while upscale hotels face demand challenges. Midscale and economy classes show strengths in occupancy and supply changes. The report includes data on occupancy, ADR, RevPAR, and brand representation. Click here to view a shortened preview of the report.