JAMES REAL ESTATE SERVICES, INC.
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Overall, so long as development does not go unchecked, demand should continue to fill new
inventory. At present, the market appears to be in equilibrium. Denver's economy has matured since the
last building cycle and has diversified. Buildings are also more specialized to meet tenants' specific
needs.
Hotel/Motel
Over the past several years, the Denver metro area has seen a surge in the growth of new hotels
and hotel rooms, the majority of which has been limited service, including extended stay hotels. The
following table is from the July 2000 Rocky Mountain Lodging Report:
2000
1999
1998
1997
Location
Occupancy
%
Avg.
Room
Rate
Occupancy
%
Avg.
Room
Rate
Occupancy
%
Avg.
Room
Rate
Occupancy
%
Avg.
Room
Rate
SOUTH
&
SOUTHEAST
South 75.70%
$81.85
65.00%
$79.62 69.30% $81.03 72.50% $79.23
I-225
Corridor* 80.00%
$65.36
SE Suburban I
77.90%
$105.65
65.50% $97.76 71.70% $101.69 72.00% $95.92
SE Suburban II
79.80%
$62.41
65.10% $60.85 75.00% $68.67 78.90% $66.05
Total 78.10%
$84.38
67.70%
$85.45 71.40% $89.23 73.20% $85.40
MIDTOWN 76.90%
$70.59
65.10%
$67.15 55.00% $61.36 57.90% $54.96
DOWNTOWN 84.00%
$124.13
71.90%
$117.30 73.00% $114.46 73.30% $110.71
NE
DENVER
Stapleton 81.10%
$57.76
62.10% $61.17 70.00% $64.72 (1)
(1)
DIA
85.50% $73.71 63.50% $71.67 63.70% $72.39 (1)
(1)
Total 83.10%
$65.11
62.70%
$65.89 68.00% $66.95 73.60% $67.11
WEST
DENVER
Central
West
81.00%
$79.03 (2) (2) (2) (2) (2) (2)
Southwest
82.10%
$73.63 (2) (2) (2) (2) (2) (2)
Total 81.30%
$77.26
64.80%
$73.63 71.40% $76.35 73.50% $74.48
NORTH DENVER
79.50%
$68.74
60.50% $61.98 65.80% $61.02 69.20% $58.38
HIGHWAY 36
CORRIDOR 78.40%
$97.48
68.20%
$81.45 72.80% $75.67 73.20% $75.40
BOULDER 88.50%
$108.37
71.00%
$100.86 72.00% $98.40 73.30% $94.01
Combined Totals
81.20%
$88.82
62.70% $87.36 70.00% $87.52 72.10% $84.06
(1) Stapleton & DIA area hotels were combined into one area in 1997
(2) Central West and Southwest hotels are included in Total West Denver
* New Category January 2000
Source: Rocky Mountain Lodging Report
