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.
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.
Three distinct but adjacent markets in Minnesota account for well over half of all hotel business in the state. Driven by strong performance and growth in demand, hotel supply in Minneapolis, St. Paul, and Bloomington is on the rise.
Some of Detroit's historic buildings have been vacant for decades. Over the past few years, independent hoteliers and lifestyle brands have stepped in to transform the dated buildings into first-class hotels.
Greater Detroit is bridging a recovering automotive industry with investments in competitive emerging technologies and hospitals. These and other efforts at economic recovery will prove crucial for Detroit’s hotel industry in the coming years.