Tampa’s hospitality market held steady through Q3, maintaining healthy fundamentals following a strong first half of the year. Occupancy averaged 57.6%, reflecting a seasonal dip, while ADR measured $140.77 and RevPAR reached $81.09, supported by steady leisure and group demand. Performance remained resilient as major conventions, sports tourism, and coastal leisure activity helped offset softer weekday business travel. Development momentum continued, with 1,216 rooms delivered and 867 under construction, underscoring investor confidence amid $97.7 million in quarterly hotel sales. Despite near-term moderation, Tampa Bay remains one of Florida’s most balanced hospitality markets, bolstered by its diverse demand base and upcoming tourism anchors including the Gasparilla Pirate Festival, NHL Stadium Series, and College Football Playoff National Championship.
Key Findings
- The Tampa Convention Center remains a key driver of group and sports tourism, helping push weekend occupancy above 80% and sustaining strong market performance through Q3.
- Clearwater posted the highest RevPAR at $155, driven by its strong concentration of luxury and upper-upscale hotels that continue to anchor regional performance.
- Transaction volume reached $97.7 million in Q3, roughly one-third of 2024’s full-year volume, signaling renewed investor confidence across Tampa Bay.
12-Month Tampa Occupancy, ADR, & RevPAR
Source: CoStar Group, Inc.
Tampa Demographics
The Tampa metro continues to rank among Florida’s most dynamic hospitality and tourism markets, supported by its award-winning beaches, expanding convention presence, and vibrant sports and entertainment scene. Anchored by Tampa International Airport, one of the nation’s top-rated large airports, the region serves as a key gateway for both domestic and international travelers. Ongoing investments such as the $44.5 million Tampa Convention Center renovation, the Water Street Tampa waterfront redevelopment, and the planned Airside D terminal at TPA are poised to strengthen long-term hotel performance and reinforce Tampa Bay’s role as a premier destination for leisure, business, and group travel.
TIA Travel Accolades
2025 | Source: TIA Airport
- 1st in Airport Service Quality
- 9.3M Enplaned Passengers
- 26th Busiest Airport in the U.S.
- 3.37% Passenger Growth YOY
Upcoming Tourism Anchors
- Busch Gardens
- NCAA Women’s Final Four
- NHL Stadium Series
- Gasparilla Pirate Festival
Population, Labor Force, & Income Growth
Source: CoStar Group, Inc.
Tampa Hospitality Construction
Development activity across Tampa Bay remains healthy, with approximately 870 rooms under construction across eight projects and an additional 2,900 rooms in final planning. Developer confidence persists despite higher interest rates and construction costs, supported by the market’s strong leisure base and expanding convention and sports tourism.
Projects are concentrated in the Tampa CBD/Airport and Clearwater submarkets, driven by demand from corporate travelers, event traffic, and coastal leisure guests.
Notable developments include the 220-room Pendry Tampa, Drury Plaza Hotel Tampa Brandon, and the CW Resort & Marina in Clearwater, each reflecting continued investment in the luxury and upper-midscale segments.
Pipeline by Scale
Source: CoStar Group, Inc.
Rooms Delivered
Source: CoStar Group, Inc.
Tampa Hospitality Sales
Investment activity in Tampa Bay’s hospitality market strengthened through Q3 2025, signaling renewed investor confidence amid stabilizing capital markets. Sales volume reached $97.7 million across 25 transactions, averaging $250,758 per key with an average cap rate of 7.9%. Trading was led by regional owner-operators and private investors targeting value-add and select-service assets across Tampa East, St. Petersburg, and Clearwater. Notable transactions included the Hilton St. Petersburg Carillon Park and the Homewood Suites Tampa Brandon, reflecting continued demand for well-located, performance-stable hotels supported by strong tourism and event activity.
Tampa Sales Volume
Source: CoStar Group, Inc.
