Buyers face challenges with high pricing, elevated operating costs, and labor issues, but the industry remains optimistic.
ALIS kicked off the 2022 hospitality industry convention season this week with heightened optimism for the sector. Several factors are converging this year that are setting the stage for what may be a year of record-breaking transaction activity.
The NYU Investment Conference arrived five months late this year, but it was worth the wait. The event attracted over 1,000 registered participants eager to hear from a stellar lineup of the global industry’s top leaders and influencers, and it kicked off in a bustling Times Square on the same day U.S. airports reopened to fully vaccinated international travelers.
With nearly 2,000 registered, the Lodging Conference brought together members of the hospitality industry to discuss the recovery, challenges, and successes of the industry to date. The highlights of the event from those that attended from HVS are summarized here.
The ALIS Conference came and went this week, bringing Downtown L.A. hotels to life with optimism and hope that normal for the hotel industry is coming in the not-too-distant future. Here are some collective takeaways from our team that was in attendance.
Like elsewhere, the United States’ restaurant sector has had a tough time responding to the seemingly endless challenges posed by COVID-19. However, interesting trends are emerging.
Extended-stay hotels have long been the industry's answer to those seeking accommodations similar to an apartment, but without the need to sign a long-term lease. Stays can be as short as one overnight or as long as years, in rare cases, but generally trend from two weeks to a couple of months.
The COVID-19 pandemic and resulting restrictions on domestic and international travel, economic activity, and individual movement are having an unprecedented impact on the lodging and tourism industry in Latin America. While government authorities across the region work to manage restrictions and phased reopening plans, uncertainty prevails over the duration of the global pandemic.
HVS compiled the Q3 2020 performance statistics of brands reported by public companies. The data reflect the gains made during the post-lockdown summer months versus a very low Q2; however, with leisure travel slowing in the current and coming quarter, coupled with the increasing COVID-related restrictions, this trend may be short lived.
Since mid-summer, we have re-appraised 140 hotels that we valued in the years and months leading up to the onslaught of the COVID-19 pandemic in March 2020. Not every hotel has lost value, but value declines have predominantly fallen in the range of 15% to 30%.