On- and off-campus hotels in a university market have to negotiate a collection of demand generators that are active at different times, and in different segments, throughout the year. We break down what developers and hoteliers should know.
Interest has risen in recent years in developing or reviving hotels in college and university markets across the U.S., and for good reason. Colleges and universities are among the most rooted institutions in their given communities, stabilizing forces sometimes going back hundreds of years. They also directly and indirectly generate
economic activity through business surrounding academic and research programs, conventions and seminars, and student admissions and graduation. Through their collective departments and associations, colleges and universities also serve as a major source of hotel demand, often the biggest demand driver in the market.
The diversity of demand drivers associated with these institutions includes sporting events, graduations, admissions, campus visits, academic events, campus social organizations such as fraternities and sororities, and sponsored events throughout the year. Colleges and universities also serve as one of the largest employers in a market, attracting commercial and government demand from local, regional, and national businesses and institutions of government. The following article breaks down the basics of hotel types and demand dynamics in college and university lodging markets.
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