Western Kentucky University
A Market Study Analysis of the Louisville Tourism Industry
Grade Level at Time of Presentation
Senior
Major
Business Data Analytics
2nd Grade Level at Time of Presentation
Senior
2nd Student Major
Business Finance
2nd Student Minor
Data Analytics
KY House District #
61 (Julia Rice); 20 (Megan Dulay)
KY Senate District #
20 (Julia Rice); 32 (Megan Dulay)
Faculty Advisor/ Mentor
Mr. Jim Lindsey; Dr. Soyeon Kim
Department
Department of Analytics and Information Systems; Department of Hospitality Management and Dietetics
Abstract
The purpose of the market study was to conduct an analysis of the Louisville market using hotel and tourism industry data, provided by Smith Travel Research. After analyzing and interpreting data, our findings paint a picture of Louisville’s tourism industry using past, present, and future trends. As the largest city in Kentucky, Louisville’s tourism offerings have a significant impact on the Commonwealth’s economy. To better understand the Louisville market makeup, our study included a breakdown of hotel properties and rooms by submarket, scale, and class. Breaking down Louisville into submarkets heightens understanding of class differences in KPIs like supply and demand percent change. Analyzing current statistics helps recognize Louisville’s recovery efforts as a whole following the COVID-19 pandemic. Benchmarking Louisville to similar markets like Indianapolis or Nashville allows comparisons in trended data. As Louisville continues to grow and recover from the pandemic, pipeline data shows residents what they can look forward to, in construction or final planning stages. Following the tragic loss of Breonna Taylor’s life, the Louisville tourism industry faces changes ahead. Ongoing efforts are in place to promote diversity, equity, and inclusion as the Louisville tourism industry adapts and evolves. Overall, our analysis dives into Louisville’s hardships and their road to recovery with a positive outlook for the future of their tourism industry.
A Market Study Analysis of the Louisville Tourism Industry
The purpose of the market study was to conduct an analysis of the Louisville market using hotel and tourism industry data, provided by Smith Travel Research. After analyzing and interpreting data, our findings paint a picture of Louisville’s tourism industry using past, present, and future trends. As the largest city in Kentucky, Louisville’s tourism offerings have a significant impact on the Commonwealth’s economy. To better understand the Louisville market makeup, our study included a breakdown of hotel properties and rooms by submarket, scale, and class. Breaking down Louisville into submarkets heightens understanding of class differences in KPIs like supply and demand percent change. Analyzing current statistics helps recognize Louisville’s recovery efforts as a whole following the COVID-19 pandemic. Benchmarking Louisville to similar markets like Indianapolis or Nashville allows comparisons in trended data. As Louisville continues to grow and recover from the pandemic, pipeline data shows residents what they can look forward to, in construction or final planning stages. Following the tragic loss of Breonna Taylor’s life, the Louisville tourism industry faces changes ahead. Ongoing efforts are in place to promote diversity, equity, and inclusion as the Louisville tourism industry adapts and evolves. Overall, our analysis dives into Louisville’s hardships and their road to recovery with a positive outlook for the future of their tourism industry.