Global Hospitality Report (December 7, 2015)

HVS Launches In Focus Hotel Market Reports for Southern Region 

In Focus Hotel Market Reports are prepared by HVS regional experts who perform local consulting and valuation assignments on a daily basis. This week we announce the release of three In Focus Hotel Market Reports, each priced at $495. An influx of high-tech manufacturers, designers, and research and development centers has expanded Austin’s economy and increased hotel demand. Hotel values and average rates should continue their rise into 2018. Learn more In Focus: Austin, TX. Though occupancy is expected to decrease through 2017—the result of a 5.5% increase in supply in the next two years, hotel demand in Houston is anticipated to continue an upward trend in the near future. Learn more In Focus: Houston, TX. New Orleans’ appeal as a destination city for events and tourism has fully recovered, and the city’s economic drivers are more diverse than a decade ago. The rise in hotel demand should continue, helping to absorb an influx of new supply. Learn more In Focus: New Orleans, LA.

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The Millennial Shift in Hotel Brands 
By Brett Russell

The past ten years have ushered in the introduction of more new hotel brands than any time in modern history. Most of these are geared toward the Millennial Generation, with hotel companies creating concepts to capture this vital segment of demand.

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Carlson Rezidor Expands Footprint in Vietnam 

Carlson Rezidor Hotel Group has joined hands with Eurowindow Nha Trang Investment and Tourism Joint Stock Company to develop the Radisson Blu Cam Ranh. Slated to open in the first quarter of 2019, the newly-built beachfront resort will be located close to Nha Trang, just 4 km away from the currently-expanding Cam Ranh International Airport. Once completed, the resort will offer 290 rooms and 40 villas, two restaurants, an outdoor pool with a pool bar, a lounge bar, and extensive meeting facilities including a grand ballroom. As of December 2015, there are approximately 3,100 rooms in the upscale and luxury hotel segment in Nha Trang; this number grew at a CAGR of 15.4% between 2012 and 2014. 2015 saw only a marginal growth in hotel supply, with the 70-key Cam Ranh Riviera Resort being the sole opening this year. With a steady increase in international arrivals and rising disposable income of the middle-class in Vietnam, the hospitality industry in the country is poised for growth in the near future.

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