Iceland has seen explosive tourism growth since 2010. Summer's midnight sun, Winter's Northern Lights and year-round natural beauty have kept the tourists coming, resulting in strong hotel performance and a booming sharing economy.
Demand from a variety of sources has risen in Chicago, pushing occupancy to a ten-year high in 2015. More than 6,000 new rooms are expected in the market over the next three years, though average rates and hotel values should continue to grow.
This is a time of contrasts in the Canadian Lodging Market. Resource based markets are suffering due to low oil prices, however leisure markets, most particularly in Luxury and Resort markets are benefiting from demand induced by the low-oil Loonie.
Job growth in the Austin-Round Rock MSA, especially with respect to highly skilled, highly educated positions, ranks among the best in the nation.
In the 5th annual Lodging Tax Report, HVS explores lodging tax trends in the USA. This updated version provides lodging tax rates/collections in all 50 US states and 150 US cities, and estimates the impact of Airbnb on lodging tax collections.
The 2016 Southern Lodging Summit drew a crowd of hoteliers and industry experts to Memphis. While delegates shared optimism about the prospects for growth, the conference shed light on some looming operational challenges facing the region’s hotels.
Asheville’s hotel industry thrives on tourism, though other demand segments have been making headway. A rise in occupancy and average rate over the past several years is expected to continue, driving hotel development in the city’s downtown.
Hotel values in St. Louis are rising, and RevPAR reached a new high in 2015. A rise in convention bookings, along with expansion efforts aimed at drawing more leisure demand, provide for an optimistic outlook for the city’s hotel industry.
Major events and tourism boosted occupancy and average rate in the Twin Cities in 2015. Hotels stand to benefit from increased visitation in the years to come, keeping average rates and property values on the rise.
Phoenix’s growth in 2015 reflects the hopes of hotel developers and owners in the market, as performance closes in on pre-recession levels.