Not necessarily. It's a very small hotel: 94 room. Plus, they are an extended-stay hotel. Perhaps they are lucky to have a corporate contract or a decent number of long-term residents. There appear to be two business parks adjacent to this hotel. One of them has both an 8-story and 14-story office tower. There are about 8 or 9 office buildings in the 2 to 4 story range.

Additionally, I searched rates for nearby hotels. I compared rates on 8 sets of dates in March via Expedia. Of the four hotels in the neighborhood, this hotel was consistently lower in 7 out of those 8 dates. They could be trying to fill up by slashing prices. Given the fact that they have a 4.5 rating out of 5 on Expedia, that might be working.

Example: March 16-19, 2021. This hotel is $87/night. The other hotels are $114, $146, and $147/night. The next closest hotel is showing sold out on those dates.

I'm not saying they aren't lying. I'm just saying it wouldn't be crazy if they were legitimately sold out.