IRR-Pittsburgh Mid-Year Viewpoint 2015 Local Market Report - Lodging
The multi-year expansion of the Pittsburgh lodging market in both the suburbs and the urban areas is expected to continue in 2015. Six hotels are under construction in the urban markets and at least five properties are under construction the suburban markets. Even with the increasing supply, in most of the regional submarkets, the number of room nights sold has continued to increase.
However some of the markets are showing signs of stress as the room supply additions are exceeding the increase in demand. All regional markets deserve watching in the foreseeable future as supply increases. The for-sale market has also been active attracting institutional capital. This is likely to continue in 2015 as the Pittsburgh market remains attractive to investors of all types.
Download the full version PDF of this Local Market Report below to see the charts, graphs, and tables not included above.
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.