SEATTLE, WA-Chris Burdett, a VP with Colliers International Hotels, has made a career out of turning hotel deals and studying the industry. But for all his experience, he says of the market since September 11, “Nobody’s ever been in this situation before. We’re all having to learn.”

Hotel occupancy had been faltering for a while throughout the US before the attacks, and Washington was no exception. According to a newly-released report from Colliers International Hotels, statewide occupancy through August had declined 2.8%–from 69.3% in 2000 to 67.4% in 2001.

Seattle’s central business district was the only market to buck the pre-9/11 trend, positing positive occupancy growth during that period by moving up from 74.9% in August 2000 to 75.5% in August of this year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.