HVS Americas Research Source | August 2020 (August 20, 2020)

Message from Rod Clough, MAI, President, HVS Americas 

I cordially invite you to join our HVS CEO and HVS Regional Presidents for a Live Webinar as we share valuable insights on today’s dynamic hotel landscape and strategies for moving forward, offering perspectives from regions around the world. The webinar will take place on Tuesday, September 8, 2020 at 10:00 – 11:00 AM EDT (3:00 – 4:00 PM BST). 

Global Hotel Performance & Values: Now and Moving Forward
Expert Insights & Strategies
  • SEE: The latest hotel performance data and how today’s environment impacts values
  • HEAR: Our experts share perspectives on future hotel performance
  • LEARN: Strategies to navigate today’s hospitality environment
  • EXCHANGE: An opportunity to have region-specific hospitality questions answered
If you would like to speak to someone personally or have any questions, please don’t hesitate to contact me directly. We are always here to help.
In Partnership,

Rod Clough, MAI
President, HVS Americas

REGISTER BEFORE IS TOO LATE.
Navy Pier Closure: A Cause for Concern? 
By Joseph Hansel

The announced closure of Navy Pier after this upcoming Labor Day sparked concern over the future of Chicago’s tourism industry. Using data on visitation trends to Navy Pier, HVS CSE shows a quantified effect of a temporary closure on Navy Pier visitation.

GET THE INSIGHT.
A Deep Dive into Wellness Hospitality 
By Stacey Zhu, Daniel Voellm and Mia Mackman

Over the past few decades, environmental and social factors, such as modernized living, have been driving the growth of wellness. While hotels are finding different ways to engage in this trend by incorporating wellness-related elements into the guest’s journey, destination spas are taking wellness to the next level with their unique offerings. This article takes a deep dive into wellness-hospitality development and discusses its distinguishing characteristics and key success factors.

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How Hotel F&B Pivoted in Response to COVID-19, and What the Future Holds 
By Court Williams

COVID-19 has affected the hospitality and tourism industries in a number of ways, and hotel food and beverage operations is one of the most affected areas. A decline in travel, low occupancy rates, and guests shifting to either cooking at home or preferring drive-thru, curbside, and delivery over eating out has led to hotel F&B rapidly evolving and adjusting their models. Hotels are marketing their eateries to locals, offering contactless food delivery, and enhancing gift card sales.

VIEW FULL STORY.
Reactivating the Caribbean during the COVID-19 Pandemic 
By Kristina D'Amico

After record breaking visitation in 2019, the Caribbean was well positioned for another stellar year. However, despite a very low infection rate in the region, the COVID-19 pandemic has presented a wide range of new challenges for stakeholders in the region. The top priority for all islands in the region has been a focus on residents and the public health issues at hand. Upon knowledge of the COVID-19 pandemic, each island immediately closed its borders, which allowed for a very low number of cases in the region so that the islands could focus on containing the virus transmission without any additional entrants.

STAY IN THE KNOW.
HVS Executive Search Update 
By Court Williams

HVS Executive Search – Americas recently completed the Brand Officer search for Tasty King, the Managing Director search for American Founders Capital, a subsidiary of Corporex, and the Senior Director, Premier Hospitality Training and Development search for AKAM Associates. HVS Executive Search – Middle East and Africa completed the Chief Marketing Officer search for Jaz Hotels and Resorts. Please click here for more information on the Executive Search division of HVS.

HVS Brokerage & Advisory Closes Sale of The Terrace Hotel in Lakeland, Florida  

HVS Brokerage & Advisory announces the sale of the 88-key Terrace Hotel, located at 329 East Main Street, Lakeland, Florida 33801. The historic, full-service property, built in 1924, was purchased from Terrace Properties Partners Ltd., based in Lakeland, Florida.

GET THE INSIGHT.
HVS Brokerage & Advisory Closes Sale of Sheraton Houston West Hotel in Houston, Texas 

HVS Brokerage & Advisory announces the sale of the 158-key Sheraton Houston West Hotel, located at 11191 Clay Road, Houston, Texas 77041. The full-service property, built in 2008, was purchased by Maa Amba LLC, which is based in Kansas City, Kansas, from Integrated Capital LLC, based in Los Angeles, California.

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INVESTMENT OPPORTUNITY - Comfort Inn & Suites IAH Bush Airport East 

HVS, is pleased to present the opportunity to acquire the 61-key Comfort Inn & Suites IAH Bush Airport East, a distressed limited-service asset near Houston’s George Bush Intercontinental Airport (IAH). The Hotel is currently distressed and underperforming the market and is being sold unencumbered by management. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

LEARN MORE ABOUT THIS OPPORTUNITY.
INVESTMENT OPPORTUNITY - Best Western Plus Lake Jackson Inn & Suites 

HVS, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 64-key Best Western Plus Lake Jackson Inn & Suites, a limited-service asset located in Lake Jackson, Texas. Based on current pricing guidance, the Property is priced below replacement cost at $89,000 per key. To construct a similar limited-service asset with comparable amenities, the estimated all-in investment would be a minimum of $100,000 to $110,000 per key. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

LEARN MORE ABOUT THIS OPPORTUNITY.
INVESTMENT OPPORTUNITY - Hampton Inn Houston-Brookhollow 

HVS, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 81-key Hampton Inn Houston Brookhollow, a recently renovated, limited-service asset located in the historically strong Houston Northwest Freeway submarket. The Hotel is currently operated by Aimbridge Hospitality and is being sold unencumbered by management. A new investor will have the opportunity to realize the significant upside of acquiring a recently renovated, Hilton-branded asset, located in a historically robust market, below replacement cost.  Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

LEARN MORE ABOUT THIS OPPORTUNITY.
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