I interviewed Heidi Nielsen, Managing Director, Charleston overseeing the Carolinas and Coastal Georgia, on June 10, 2021, to discuss the current Charleston market dynamics and the outlook for recovery. Heidi outlines what the market looks like today, the factors contributing to current performance levels, and what will help drive improvements in future performance. She provides the forecast of occupancy and average rate for Charleston, as well. This nine-minute video provides important insights and factors to consider for those currently invested or considering investing in this region.
If you would like to listen to Heidi's insights, click 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
|
|
HVS Executive Search executives reached out to hospitality employers across US, Europe, Asia Pacific, Middle East and Africa to understand the current employer sentiment as the industry embarks the recovery zone. The objective of the survey was to “check the pulse” and address the unified response that is critical for the hospitality industry at this stage.
LEARN MORE.
|
|
Due to travel restrictions, Staycations flourished as one of the few remaining sources of leisure demand. We interviewed hospitality experts and conducted a survey to gather data on consumers’ behavior and hoteliers’ response with regards to Staycations in Canada and beyond. Through this article, we share innovative strategies hoteliers can use to develop competing Staycation packages aiming to attract one of the identified Staycations subsegments: Dreamers, Explorers and Business Staycationers.
GET THE INSIGHT.
|
|
The concept of sustainability has been around for decades, popularized by the First World Climate Conference in 1979, the inception of the United States Green Building Council (USGBC) in 1993, and the publication of Vice President Al Gore’s book about climate change (An Inconvenient Truth) in 2006. While other building types were early to adopt this concept, hospitality seemed slow to embrace green building design. Today, hospitality design is making noticeable changes to catch up.
VIEW FULL STORY.
|
|
For more than ten years, NEHMER and HVS Design, leading Architecture, Interior Design, and Project Management firms specializing in the hospitality industry, have published the Hotel Cost Estimating Guide, a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations. The 2021 Hotel Cost Estimating Guide is the thirteenth edition of this comprehensive planning tool.
DOWNLOAD THE GUIDE.
|
|
The COVID-19 pandemic brought Boston’s hotel market to its knees. How far has the Boston hotel market fallen? How does this compare to other major metropolitan areas? What will the recovery look like?
STAY INFORMED.
|
|
Since early March of last year, hotels in the greater Dallas/Fort Worth Metroplex have suffered varying degrees of demand loss in demand due to the COVID-19 pandemic, and while South Dallas’s economy was not immune to the impact of the pandemic, the logistics/distribution, manufacturing, and industrial industries have remained strong in this market.
VIEW FULL STORY.
|
|
Cincinnati experienced a banner year in 2019, with hotel performance reaching peak levels given the diverse base of lodging demand sources. However, since early March 2020, Cincinnati-area hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. Fortunately, lodging performance has improved in recent months, and significant investments throughout the region are forming a good foundation for market recovery.
LEARN MORE.
|
|
The COVID-19 pandemic delivered a substantial blow to Detroit. However, the city had one of the lowest RevPAR declines in 2020 among the top 25 markets, with only four leisure-oriented markets performing better. Is this a sign of Detroit’s famous resiliency, or was it merely the fact that Metro Detroit had less to lose?
VIEW FULL STORY.
|
|
One thing that stood out at the recent May 2021 Hunter Conference at the Atlanta Marriott Marquis was that people are ready to travel, gather, and attend large-scale conferences again. The Marriott was ready, with attentive staff, well thought-out procedures, and a great experience all around. Kudos to both the Hunter Conference team and the Marriott team. It was a truly flawless event.
STAY IN THE KNOW.
|
|
In 2020 and early 2021, Anaheim-Santa Ana hotels suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. How does this compare to the last recession? What factors are contributing to the recovery?
GET THE INSIGHT.
|
|
HVS is pleased to announce that Matthew C. Panosh has been promoted to Vice President of our Hotel & Asset Management division. Matt is based in Denver, Colorado.
VIEW FULL STORY.
|
|
HVS, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 118-key Howard Johnson by Wyndham Beaumont, a limited-service asset located in the burgeoning market of Beaumont, Texas. This opportunity presents a blank slate for a new owner/operator to restructure the hotel’s operations, improve the bottom-line cash flows, and capitalize from $54-billion petrochemical expansion projects in the Beaumont/Port Arthur area over the next ten years. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.
VIEW FULL STORY.
|
|
The property is situated on 2.95 acres (128,502 square feet) of land, presenting a rare opportunity for a developer with flexibility to reposition or redevelop the site into a different asset type. The property has a strong location along the frontage road of the Interstate 610 Loop and Kirby Drive interchange, which is in the vicinity of the Texas Medical Center and NRG Park. Property tours will be held on July 22 and 23 by APPOINTMENT ONLY. Please contact James Rebullida at +1 (713) 955-5580 to schedule.
LEARN MORE ABOUT THIS OPPORTUNITY.
|
|
This offering presents an excellent opportunity for a private investor to enter the Hilton brand family with a highly sought after extended-stay product at a price well below replacement cost.
At the peak of the COVID-19 pandemic in 2020, extended-stay hotels performed significantly better than other asset types. This hotel provides a new investor with the security of owning a recession resistant product. The all-suite design promotes guest independence, which yields to lower housekeeping costs and potentially higher profits. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.
LEARN MORE ABOUT THIS ASSET.
|
|
These two hotels are lender-owned (REO) assets. Ownership was transferred to the lender in January 2021. The portfolio offers operational efficiencies of key property-level functions including a shared General Manager, Director of Sales, Sales Coordinator, and a Chief Engineer, allowing for reduced payroll costs and higher NOI flow-through. In 2020, the TownePlace Suites’ top 125 accounts only accounted for 30% of rooms revenue. With its extended-stay model and brand affiliation, there is opportunity for new management to target long-term contracts and improve revenues. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.
LEARN MORE ABOUT THIS OPPORTUNITY.
|
|
- Suzanne Mellen at the in-person ALIS Law 2021 on Monday, July 26, 2021 at 8:30 am, Pacific Time.
- Suzanne Mellen at the in-person Americas Lodging Investment Summit (ALIS) 2021 on Tuesday, July 27, 2021 at 3:15 pm, Pacific Time.
- Emil Iskandar at the in-person Americas Lodging Investment Summit (ALIS) 2021 on Wednesady, July 28, 2021 at 11:00 am, Pacific Time.
- Caribbean Hotel Investment Conference and Operations Summit (CHICOS 2021) on November 10-12, 2021 at the Grand Hyatt Baha Mar, in Nassau Bahamas.
|
|
|
|
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 © 2021 All Rights Reserved by HVS Privacy Policy Sent By: Lizzette Casarin HVS | Marketing Director 4775 Larimer Parkway Suite 200 | Johnstown, Colorado 80534 | | | | |