The 41st NYU International Hospitality Industry Investment Conference wrapped up on June 4, 2019, and the overall sentiment of the event was one of caution, a shift from a sentiment of cautious optimism at conferences earlier in the year.
Spokane is becoming a national meeting-and-group destination following the convention center’s expansion and the opening of a new headquarters hotel in 2015. A greater variety of groups and events are attracted to Spokane, with 2019 tracking to be a record year for the city.
Celebrating its 30th anniversary, the Asian American Hotel Owners Association (AAHOA) convention welcomed nearly 9,000 attendees in its most widely attended event in history. Reportedly, one out of every two hotels in the United States is owned by members of this important association.
The St. Louis hotel market is at an exciting turning point, with several new, lifestyle-oriented properties set to make their mark this year. These new hotels will make a statement for the local hotel scene as this Midwest city’s status as a regional tourism destination continues to grow.
Developers are eyeing Newark and Jersey City as alternatives to Manhattan.
Downtown has historically lacked the inertia to overcome economic conditions to transition to a new identity worthy of this city’s rich history. The City for Champions and urban renewal initiatives could be the impetus needed for revitalization.
The second-largest city in California is benefiting from record occupancy levels and new ADR peaks, despite the entrance of new supply.
Anchored by the Mayo Clinic, Downtown Rochester has experienced a plethora of development attributed to the $5.6-billion Destination Medical Center (DMC) initiative, which is the largest economic development initiative in Minnesota’s history.
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.
Recent hotel transactions show investor confidence in this high-barriers-to-entry Southern California market. This article illustrates the current conditions and lodging metrics of the Huntington Beach, Newport Beach, and Costa Mesa submarkets.