The ninth annual Lodging Tax Study also looks forward and assesses the impact of the COVID-19 pandemic. This analysis of 25 major US markets illustrates the depth of the impact on the hospitality industry and projects a pattern of recovery over the next few years. HVS also provides historical data on tax rates and the collection and distribution of revenue from lodging taxes levied in all 50 States and the 150 largest US cities.
Public sector involvement in convention center hotels is common due to high cost of development and lack of private capital for such investments. Many communities provide public subsidies to projects that are not feasible on a purely private basis.
Though historically associated with residential and low-rise commercial buildings, modular construction has gone more upscale in recent years. What are the benefits, and what should hotel developers consider before going modular?
In response to rising demand for unique designs, developers are turning to adaptive reuse as a means of creating one-of-a-kind hotels. Historic building conversions come with their own sets of challenges, balanced by potential rewards.
Employment in Oklahoma City stands far ahead of the nation, and activity generated by agriculture, energy concerns, and the military has kept the economy going strong. What has this meant for recent hotel performance, supply, and transactions?
Business relocations and expansions are one sign of Oklahoma City’s economic strength since the recent recession; increasing hotel tax revenues, greater demand, and new supply demonstrate the strength of the city’s hotel sector.