The Wyoming hotel market consists of approximately 475 properties, totaling approximately 29,000 rooms. Notably, the market is characterized by its small hotels, with an average of around 61 rooms per building—significantly below the U.S. average of 89 rooms per building.
Cost-effective accommodations are prevalent, with over 55% of the rooms falling into the Economy or Midscale categories. The trailing 12-month occupancy rate stands at 56.5%, below the national average of 63.0% for the same period. Although Wyoming initially experienced the impact of COVID-19 with an annualized occupancy drop to 42.3%, its recovery has been slower compared to other hospitality markets. However, RevPAR and ADR have increased drastically throughout much of the state over the last few years.
Market data is compiled by Ferguson Appraisals, LLC