In Brief: In the wake of the pandemic, Myrtle Beach has experienced a K-shaped hotel recovery. The broader market has softened from post-pandemic peaks, with lower supply, demand, and revenue, while branded, upper-midscale and above hotels have expanded and outperformed pre-2019 levels. That divergence has drawn new investment, rebranding, and redevelopment in the market’s higher-end segment, signaling sustained confidence.
Post-Pandemic Hotel Performance in a Shifting Leisure Landscape
As demand for drive-in markets such as Myrtle Beach spiked in 2021 and early 2022, average daily rates (ADRs) within many of these areas rose notably above historic levels. This trend continued through 2022 and 2023, abetted by atypically high inflationary pressure, with vacation-oriented markets across the Southeast sustaining ADRs well above 2019 benchmarks…