HVS Americas Research Source | August 2021 (August 19, 2021)

Message from Rod Clough, MAI, President, HVS Americas 

The ALIS Conference came and went at the end of July, bringing Downtown L.A. hotels to life with optimism and hope that normalcy for the hotel industry is coming in the not-too-distant future. The team in attendance and I took the time to collectively write an article on the main takeaways, including market performance; capital markets and transactions; the COVID-19 Delta variant; and labor, construction cost, and inflation challenges. Click here to learn more.

Thank you for your ongoing confidence in us. We are looking forward to seeing you and enjoying a brighter year ahead for the hospitality industry.

In Partnership, Rod Clough, MAI
President, HVS Americas

How to Resolve the Current State of Emergency in Hospitality Employment 
By Court Williams

The hospitality industry has seen a decrease in staff as many people have found alternate career paths as a result of the impacts of COVID-19. The hospitality industry needs to re-focus their efforts to meet future staffing requirements in order to see an increase in demand for hospitality industry seekers.

Canadian Lodging Outlook Quarterly 2021-Q2 

Limited-Service hotels are leading the recovery in 2021 with YTD June showing higher occupancy than in 2020 and RevPAR down only just over $1. Full-Service hotels face greater challenges but the light at the end of the tunnel is starting to shine!

Pandemic in the Rearview: Nashville’s COVID-19 Impact and Recovery 

Similar to other urban lodging markets across the country, the onset of the COVID-19 pandemic wreaked havoc on Nashville’s thriving hotel and tourism industry. With the widely available vaccines and the lifting of pandemic restrictions, we look back at the effects of the pandemic in 2020, Nashville’s burgeoning recovery in 2021, and the long-term outlook for the Music City.

COVID-19’s Impact on the Raleigh Hotel Market 
By Janet Snyder, MAI

The Raleigh market achieved historically high levels of economic activity and visitation in 2019. However, after the onset of the COVID-19 pandemic in early 2020, the market suffered significant declines in business activity and hotel demand, similar to most metropolitan areas across the country. How did Raleigh sustain through the height of the pandemic? What is the market experiencing as it emerges from the pandemic, and what does the future look like for this state capital?

HVS Brokerage & Advisory Closes Sale of Courtyard by Marriott in Laredo, Texas  

HVS Brokerage & Advisory announces the sale of the 110-key Courtyard by Marriott Laredo, located at 2410 Santa Ursula Avenue, Laredo, Texas 78040. The select-service hotel property, built in 1995, was purchased by Landstar Hotels, based in Ciudad Juárez, Mexico, from Kiertan Laredo LLC, based in Houston, Texas.

HVS Brokerage & Advisory Closes Sale of Holiday Inn Express & Suites Houston – South Medical Center Area, Houston, Texas 

HVS Brokerage & Advisory announces the sale of the 146-key Holiday Inn Express & Suites, located at 9300 South Main Street, Houston, Texas 77025. The limited-service hotel property, built in 2016, was purchased by Scenic Capital Advisors, based in Austin, Texas, from Akshaj Hotels Inc., based in Houston, Texas.

INVESTMENT OPPORTUNITY - SpringHill Suites by Marriott Houston Katy Mills 

HVS Brokerage & Advisory is pleased to present the opportunity to acquire the 69-key SpringHill Suites by Marriott Houston-Katy Mills, a limited-service asset located in the historically strong-performing submarket of Katy in Houston, Texas. This offering presents an excellent opportunity for a private investor to enter the Marriott brand family with a highly sought-after franchise at a price well below replacement cost. A new investor can expect a new, 14-year franchise license agreement with Marriott upon completion of the brand-mandated change-of-ownership PIP.

INVESTMENT OPPORTUNITY - Four Points by Sheraton Houston Greenway Plaza 

HVS is happy to present this opportunity to acquire the 216-key Four Points by Sheraton Greenway Plaza, a select-service asset located in the historically strong Greenway Plaza submarket. The Upper Kirby District is a densely redeveloped and high sought-after submarket in Houston. Patrons in Upper Kirby are offered easy access to high-profile names in retail, trendy boutiques, fine arts, and some of the city’s most venerated restaurants. Please visit our listings or contact Eric GuerreroJames Rebullida, or Fadi Rawashdeh for more information.

INVESTMENT OPPORTUNITY - La Quinta Inn & Suites by Wyndham Houston Cypress 

This offering represents an ideal opportunity to acquire a recently built asset located in the growing suburban Cypress submarket of the Houston MSA at a price well below replacement cost. The property was built as a La Quinta by Wyndham Del Sol prototype and opened in 2016. Current ownership has maintained the asset well; it is in overall excellent physical condition. A minimal PIP is expected during the change-of-ownership transfer. 

INVESTMENT OPPORTUNITY - Howard Johnson by Wyndham Beaumont 

HVS 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.

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