Downtown and D.C. hotels set records for average daily room rates, occupancy rates, revenue per available room and total room revenues in 2013. This occurred despite domestic and international tourism in 2013 remaining at roughly the same levels as they stood in 2012. Thus, Downtown and D.C. hotels are increasing their regional market share in a flat tourism, visitor and convention market.
The current level of hotel development in D.C. is likely to support further increases in citywide total room revenue. Six new hotels are under construction in the city with approximately 2,200 hotel rooms (an 8 percent increase in supply). Over 20 new hotels in D.C. are in the near-term and medium-term planning stages, totaling almost 4,000 additional rooms. D.C. will lose a few hundred rooms in the next several years with the conversion of the Latham Hotel and the Washington Marriott Wardman Park to condominium buildings.