Article - HVS Market Report - Louisville, KY Hotel Market: Room to Grow - By Kaitlyn Hennessy - The hotel market in Louisville, Kentucky, has experienced a slow recovery since the peak of the COVID-19 pandemic. While a copious amount of new supply over the past few years has slowed the recovery, ADR has grown steadily. The area will continue to be supported by bourbon tourism, the University of Louisville, and the Kentucky Derby.