It was not long ago I was championing Lehigh Valley, PA as one of the hottest lodging markets in the country as it rebounded quickly from the Covid epidemic and benefitted immensely from its proximity to large cities and leisure travelers eager to spend stimulus funds on an overdue vacation. As the international travel market reopened, and bucket list travel destinations have highlighted this summer travel season, the Lehigh Valley has seen a return to normal leisure demand. Unfortunately, commercial travel has remained inconsistent at best and the new hotel increase in supply that has averaged 5% for the past couple of years is forecasted to continue at that level through 2025, pushing down occupancy levels and leveling off ADR growth. continue
Cap Rates Forecasted to Rise as New Hotels Flood Lehigh Valley Lodging Market By: Gregg Marzano
by Tom.Skeans@svn.com | Sep 24, 2024