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 Washington DC market.
Seattle effectively closed for business in early March 2020 because of the COVID-19 pandemic. Attempts to reignite the local economy have faced multiple setbacks, compounded by 40+ national convention cancellations, the shuttering of the 2020 cruise season, and the substantial decline in inbound domestic and international travel. The effects of COVID-19 on the Pacific Northwest have been nothing short of catastrophic to the hospitality industry.
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.
Based on patterns of recovery following the two most recent recessions, HVS projected the lodging tax revenues of 25 US urban markets. Compared to a baseline scenario without the pandemic, HVS estimates combined lodging tax losses across these markets could range from $4.4 to $6.1 billion. Losses of this magnitude will force stakeholders to consider steps such as debt refinancing or seeking alternative revenue streams until the hospitality industry recovers from this pandemic.
En vista de la experiencia de HVS en México y en otros países del mundo, hemos querido preparar y distribuir este breve documento que proporciona algunos datos sobre el comportamiento del mercado hotelero de cara a eventos de shock como el que ahora vivimos. Queda claro que este evento no es igual a otros pasajes que se pueden analizar y que las circunstancias del evento actual cambian literalmente por hora.
In 2018, Amazon announced the locations for its coveted HQ2. Along with this announcement, the company also disclosed a new Center for Operational Excellence to be built in Downtown Nashville, bringing with it 5,000 new high-paying jobs. But how will this impact the local lodging industry, especially amid a massive number of new hotels flooding the market?
After experiencing year-over-year RevPAR growth since 2010, hotel supply in Downtown Madison has finally caught up with demand; however, the outlook remains positive given the diverse industries and breadth of demand generators in the market.
Vancouver is experiencing a development renaissance. Instilled with a new sense of confidence by The Waterfront’s ongoing success, Portland’s lesser known neighbor is buzzing with new construction projects, including office, multi-family, retail, and hotels along The Waterfront.
Spokane is becoming a national meeting-and-group destination following the convention center’s expansion and the opening of a new headquarters hotel in 2015. A greater variety of groups and events are attracted to Spokane, with 2019 tracking to be a record year for the city.