HVS Market Report – A Give attention to Sports activities in Naples, FL Attracts a Youthful Demographic

Previously a haven for retirees and snowbird vacationers, Naples has been revitalized as a preferred vacation spot for all generations. Whereas the world’s pure sights, lodges, eating places, and buying districts will stay its hottest sights, sports activities tournaments and occasions have change into a brand new focus in Naples.

The Paradise Coast Sports activities Complicated, Naples’ premier sports activities and special-events venue, opened in December 2020 and has been ramping up operations and increasing since. The 180-acre venue options eight multi-use fields (for soccer, lacrosse, and soccer), a stadium, and 6 sand volleyball courts as athletic services. Occasion, leisure, and leisure areas on the complicated embody the Nice Garden and Nice Garden Amphitheater, the Manufacturing facility outside health facility with the MoveStrong impediment course, and the Cove beer and wine bar. Section III of growth is at present underway. A ninth subject and eleven diamond fields for baseball and softball are anticipated to open by 2025.

Inns within the neighborhood of the sports activities complicated are realizing the advantage of its presence, significantly via common charge will increase. Since Paradise Coast’s 2020 opening, common charges have far surpassed historic ranges, and native lodge operators have famous a rise in youth and grownup sports activities groups reserving multi-night stays. Moreover, concert events and different neighborhood occasions have prompted in a single day visitation from Florida residents outdoors of the fast native market. These guests additionally benefit from the leisure services of the complicated.

Furthermore, the world surrounding Paradise Coast Sports activities Complicated (referred to as the Golden Gate Innovation Zone) is rising, as supporting companies benefit from county incentives and the recognition of the venue. A Nice Wolf Lodge, a resort that includes an indoor waterpark and different family-friendly sights, is at present below building and is anticipated to open in October 2024. An ECHO Suites Prolonged Keep by Wyndham is anticipated to be constructed by 2026.

The anticipated growth of the sports activities complicated and addition of recent lodge stock coincides with the doorway of the latest League One membership, USL Naples, to the United Soccer League in 2025. Whereas bringing a soccer membership to the world has been within the works for a few years, the January 2024 announcement has come at an ideal time for Collier County, as its sports activities complicated ramps up and features recognition amongst each guests and locals. This addition is anticipated to assist draw youthful generations of vacationers and residents; a neighborhood skilled sports activities group is an particularly necessary function for millennials and Gen Zers. With 32 regular-season video games scheduled for 2025 between March and November (16 of which might be hosted at Paradise Coast Sports activities Complicated), lodge operators are anticipating an uptick in visitation from youthful vacationers throughout an off-peak interval on this market.

Our work inside native markets empowers us to conduct major interviews with key market contributors. This strategy ensures we acquire real-time insights and present knowledge for every market we function in. We replace our forecasts month-to-month. For extra details about the Naples market or for assist making knowledgeable funding choices that align along with your objectives and threat tolerance, please contact Hannah McManus through LinkedIn or e mail.

About Hannah McManus

Hannah, a Director with HVS Consulting & Valuation, leads the Saint Petersburg, Florida workplace. Hannah collaborates on and gives considerate insights for tasks together with lodge value determinations, market research, portfolio valuations, and feasibility research for proposed lodges, resorts, and mixed-use hospitality belongings. An extended-time resident of the West Coast Florida area, she gives experience in leisure-driven and coastal Florida markets with a profound understanding of Florida belongings. Hannah’s expertise extends past Florida throughout a wide range of markets within the Southeast and New England, together with engagements within the larger New York Metropolis market. Contact Hannah at (410) 967-8879 or hmcmanus@hvs.com.