Did you know that HVS has updated its latest in-depth research publications that can help you manage the challenges facing the hospitality industry? You’ll find them all here, where you can also connect directly with the experts who authored the research.
In addition, we’re hosting a webinar with the nation’s top hospitality leaders in January. These C-level executives will share their essential insights on what you can expect in 2021, so you can start the year with the optimal strategies for your business. You won’t want to miss this important discussion. Sign up now here.
Thank you for your ongoing confidence in us and we are all looking forward to a brighter year ahead for the hospitality industry.
In Partnership,
Rod Clough, MAI
President, HVS Americas
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Since mid-summer, we have re-appraised 140 hotels that we valued in the years and months leading up to the onslaught of the COVID-19 pandemic in March 2020. Not every hotel has lost value, but value declines have predominantly fallen in the range of 15% to 30%.
GET THE INSIGHT.
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Through Q3 2020, RevPar in Canada continues to deteriorate, declining 61% over 2019. Hotels in the luxury segment and those with more than 500 rooms have taken the brunt of the impact. Covid-19 is not affecting markets uniformly across the country. The Okanagan and Northern Ontario markets have fared best with decreases of 33% and 35% while the hardest hit market, Downtown Montreal has a RevPAR decline close to 80%. With the pandemic not slowing, we don’t foresee improvement until the spring.
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HVS compiled the Q3 2020 performance statistics of brands reported by public companies. The data reflect the gains made during the post-lockdown summer months versus a very low Q2; however, with leisure travel slowing in the current and coming quarter, coupled with the increasing COVID-related restrictions, this trend may be short lived.
STAY IN THE KNOW.
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HVS is pleased to announce that Tanya Pierson, MAI, has been promoted to Senior Managing Director. Tanya is based in Minneapolis, Minnesota. She has over 25 years of experience across all facets of hospitality consulting and appraisals, including valuation expertise across all segments of the lodging industry, portfolio valuations, lodging supply-and-demand analyses, facility recommendations, feasibility studies, and expert testimony.
VIEW FULL STORY.
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HVS, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 64-key Comfort Suites Houston NW - Vintage Park ,a limited-service asset located in the historically strong Northwest Houston submarket. A new investor will have the opportunity to realize the significant upside of acquiring a recently renovated, underperforming, absentee owned asset sigifnicantly below replacement cost. The investor will be able to “turnaround” operations by improving yield-management strategies, revitalizing sales and marketing initiatives, and recapturing its competitive advantage. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.
LEARN MORE ABOUT THIS ASSET.
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HVS, is pleased to present the opportunity to acquire the 82-key Hampton Inn & Suites Houston-Westchase, a limited-service asset located in the historically strong Houston Westchase submarket. The owner-operated Hotel is currently underperforming the market; the Property is being sold unencumbered by management. A new investor will have the opportunity to “turnaround” operations by improving yield-management strategies, revitalizing sales and marketing initiatives, completing the PIP, and recapturing its competitive advantage. 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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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 OUR LISTINGS.
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HVS, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to athe underperforming, 75-key Holiday Inn Express & Suites Brookshire – Katy Freeway, a recently constructed, limited-service asset located in the historically strong Katy Freeway submarket. The Hotel is currently absentee owned and operated by a third-party management company but is being sold unencumbered by management. A new investor will have the opportunity to realize the significant upside of acquiring a recently constructed, absentee owned, underperforming asset at significantly below replacement cost. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.
LEARN MORE ABOUT THIS ASSET.
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Superior Results through Unrivaled Hospitality Intelligence. Everywhere. | | | Stay current. Click here to receive free HVS newsletters Looking for insights into the hospitality industry? Discover unique hospitality intelligence at hvs.com/publications Interested in a particular market? Find hundreds of market overviews, all written by HVS experts, at hvs.com/marketresearch Like to be in the know on hotel trends and predictions? See our Hotel Valuation Index for dozens of cities at hvi.hvs.com | | | | | | | Copyrights © 2020 All Rights Reserved by HVS Privacy Policy Sent By: Lizzette Casarin HVS | Marketing Director 4775 Larimer Parkway Suite 200 | Johnstown, Colorado 80534 | | | | |