Q4 Report Highlight: Jacksonville
- zaverhotels
- Feb 22
- 1 min read
Tourism is a major driver of hotel demand in Northeast Florida. Jacksonville’s convenient location near major population centers in Alabama and Georgia, easily accessible via Interstate 95, attracts budget-conscious visitors seeking a more affordable alternative to Miami, Orlando, and Tampa. The area’s extensive coastline also fuels leisure demand, offering a variety of affordable drive-to destinations. In 2024, Jacksonville’s RevPAR experienced a slight year-over-year decline, settling at $94.90, a difference of $2.21. However, the market saw positive quarter-over-quarter growth in Q4 2024, with occupancy rates rising to 67.9%, exceeding the 5-year average of 66.3%. ADR also increased by 3.64% compared to the previous quarter. The number of rooms under construction is up nearly 19% from 2023, with approximately 1,300 new rooms expected to be added in 2025, including the notable Holton Jacksonville at Mayo Clinic. Hotel sales also showed positive momentum, with a 2.1% year-over-year increase to $232.7 million. Overall, the Jacksonville hospitality market is experiencing positive growth and is expected to remain stable in Q1 2025.
