South Carolina’s Hospitality Industry Sees Strong Start To 2023

South Carolina’s hospitality industry has had a strong start in 2023 despite a decrease in the number of rooms available statewide, according to a recent report from Colliers South Carolina.

Statistics show that the industry has outperformed year-over-year, with a strong first quarter in 2023.

Investors in the industry as well as property owners have been dealing with a unique market situation as they navigated the current lending environment, according to the report. Buyers have realized the high cost of debt and adjusted underwriting while sellers, which resulted in softer transaction volumes in the first quarter of this year, the report said.

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