Denver hotels have experienced nine straight months of declining occupancy numbers. Occupancy is down 3 percent year-to-date, according to hotel consultancy firm STR.
But hotel companies aren’t panicking because 2015 was a banner year.
"Did we have a peak in 2015? We may have," said Mike Everett of Denver's Sage Hospitality. "But we’re still doing phenomenally well in 2016."
Everett said there are three key segments of travelers in Denver – business, leisure and convention.
"We’re not relying on any one of those," he said. "It’s hard to see that any one of those would take a major downturn in the near future."
If there is a worry it’s business travel, which isn’t as strong due to the oil and gas downturn.
Also, the percentage of rooms filled is falling because there are more rooms available. Twenty-nine hotels have opened since 2010 – that's 5,000 more rooms.