Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source provides the basis for our illustrated total development costs per room/per product type.
Three U.S. major professional sports teams—the Vegas Golden Knights of the National Hockey League, Las Vegas Aces of the Women’s National Basketball Association, and Las Vegas Raiders of the National Football League—are based in Las Vegas. The importance of sporting events for the Las Vegas market extends beyond serving as the home for these professional teams. The return of sports will contribute to Las Vegas’ eventual recovery from the impact of the COVID-19 pandemic.
Recent hotel transactions show investor confidence in this high-barrier-to-entry market near the major metropolitan areas of Baltimore and D.C. This article illustrates the current conditions and lodging metrics of the Annapolis market.
Raleigh’s economy and hotel landscape continued to grow in 2016, despite controversial government measures that affected the entire state. Hotel supply expands to meet demand, and 2017 is expected to be generally positive for the lodging industry.
Even with some 50 new hotels in Charlotte’s pipeline, the area is poised for continued growth in occupancy and average rate, with commercial and residential developments expected to continue to boost hotel demand.
The 35th America’s Cup in 2017, increased air capacity, and government incentives have helped Bermuda’s growing tourism industry and have spurred developer interest in building new luxury hotels on the island.
Asheville’s hotel industry thrives on tourism, though other demand segments have been making headway. A rise in occupancy and average rate over the past several years is expected to continue, driving hotel development in the city’s downtown.