The Wyoming hotel market consists of 471 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.
Additional research is provided by CoStar in the link below.
Read More at: Wyoming Hospitality 2024 Real Estate Report
Market data is provided by CoStar Analytics. Ferguson Appraisals, LLC is a licensed user of CoStar Analytics and has received permission to share the published report.