IRR-Dayton Mid-Year Viewpoint 2015 Local Market Report - Lodging
Hotel performance in the Dayton market has experienced continual growth in 2015, which follows increased occupancy and ADR from 2013 to 2014. Although growth has slightly lagged the state overall, sales activity and development in the market has notably increased in the past few years. The strength of the market appears to be centered on Wright Patterson Air Force Base and Wright State University to the northeast and the Dayton Mall area to the south stretching towards Cincinnati.
Limited new construction is occurring so far in 2015. Generally speaking, whatever new demand there is appears to be more leisure-based. To remain competitive with the new supply that came on the market in 2014/2015, many existing hotels have undergone capital projects, resulting in an overall increase in the quality of market supply. Improvement in occupancy and rate growth has resulted in an improvement in the quality of supply and the overall strength of the market.
With the improvement in the economy and demand generators such as Wright Patterson Air Force Base and Wright State University, the overall Dayton lodging market will continue to improve in the foreseeable future.
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IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.