The HVI is the authoritative guide to U.S. hotel values, giving hotel stakeholders an educated edge in buying, selling, and holding opportunities. This online tool provides historical and projected values and RevPAR for the Detroit market.
The COVID-19 pandemic delivered a substantial blow to Detroit. However, the city had one of the lowest RevPAR declines in 2020 among the top 25 markets, with only four leisure-oriented markets performing better. Is this a sign of Detroit’s famous resiliency, or was it merely the fact that Metro Detroit had less to lose?
Hotel development in Detroit continues full steam ahead, even as multiple large-scale residential developments are scaled back due to rising construction costs. Is Downtown Detroit prepared for the next round of hotel development within the Motor City?
At the 2019 Phoenix Lodging Conference, the HVS Team heard muted optimism and a view that growth in the next 24 months may vary widely across markets. We would encourage owners to investigate the sometimes overlooked top 50 MSAs that still could experience value appreciation in those 24 months.
Toledo has long lived in the shadow of its neighbor to the north, Detroit, with an economy steeped in auto manufacturing and industry. The city is known for Jeep, Jamie Farr, and Tony Packo’s, but a thriving lodging market? HVS’s Stacey Nadolny investigates the changing dynamics in her hometown.
Record levels of demand, coupled with Detroit’s improved reputation, have driven hotel developers to the city. Multiple hotel projects in the pipeline are expected to complement the vast amount of development efforts throughout the city.