A record-breaking decade of growth in the Los Angeles hospitality market was brought to a halt by COVID-19 in 2020. A year after the start of the pandemic, we explore the changing dynamics of this market.
Over the past year, the Albuquerque and New Mexico market have suffered unprecedented declines in demand because of the COVID-19 pandemic. These declines have been driven by more restrictive state-imposed limitations on travel and business operations, especially for hotels. As the state begins to emerge from COVID-19 restrictions, we examine the recovery outlook.
Consistently ranked as one of the top lodging markets in the United States, San Francisco is now one of the cities most affected by the COVID-19 pandemic. From the 1849 Gold Rush to the present day, San Francisco has been known for its boom-and-bust economy, and a full recovery from the current downturn is expected, as in years past. This article explores recent lodging trends for San Francisco and offers a high-level perspective on the road to recovery.
Since March 2020, Boise hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. Which factors affected 2020 hotel performance, and what key elements are expected to influence hotels in the Treasure Valley’s capital? What will the recovery look like?
Napa Valley’s resiliency and depth of demand has been illustrated year after year, even with the addition of new supply and the recent wildfires. While the Glass Fire and restrictions related to the ongoing COVID-19 pandemic affected the market in 2020, market participants remain confident in Napa Valley’s recovery from the pandemic over the long term, further indicated by developers’ and buyers’ continued interests in the market.
Since early March, hotels in the greater Phoenix area have suffered unprecedented declines in demand; however, Phoenix outperformed many of the top 25 markets in 2020, with seasonality and demand segmentation playing a large role in the market’s performance last year. How will these factors and others impact 2021 and the recovery of the market?
The Coachella Valley is known for its signature events, including the Coachella Valley Music & Arts Festival. With major events canceled in 2020, how did the market perform? What’s the road for recovery?
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%.
Since early March, greater San Diego-area hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. How far has the San Diego hotel market fallen? How does this compare to the last recession? What will the recovery look like?
Nevada began its emergence from the COVID-19 pandemic shutdown on May 9, 2020, after Nevada’s Governor Steve Sisolak authorized certain businesses, including restaurants and retail establishments, to reopen with limitations. Nevada’s casinos were allowed to reopen on June 4, 2020, with restrictions. This article provides an update of the status of the Las Vegas market since Nevada’s casinos were allowed to reopen.