The Wyoming hotel market consists of 480 properties with approximately 29,000 rooms. Among these, there are 1,800 Luxury & Upper Upscale rooms, 10,000 Upscale & Upper Midscale rooms, and 17,000 Midscale & Economy rooms.
As of February, Wyoming’s 12-month occupancy rate stands at 53.4%, with an average daily rate (ADR) of $165 and revenue per available room (RevPAR) of $88. Year-over-year, occupancy has declined by 2.9%, while ADR has increased by 7.1%, and RevPAR has grown by 4.0%.
Currently, about 380 rooms are under construction in Wyoming, representing 1.3% of the total market inventory. Over the past year, approximately 340 rooms have been added across five new properties. Over the last three years, Wyoming’s hotel inventory has expanded by 480 rooms (0.6%), compared to a national increase of 130,000 rooms (1.2%) over the same period.
For a full analysis of hotel conditions in Wyoming, please contact Ferguson Appraisals for a free market summary.