As we count our blessings in this season of gratitude, we consider ourselves to be extremely lucky to have clients and supporters like you. May we continue to have a flourishing and mutually beneficial relationship. We wouldn’t be where we are without you. Wishing you and your loved ones a happy Thanksgiving!
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The HVS U.S. Hotel Franchise Fee Guide provides a comparative review of various hotel franchises based on their applicable franchise fees. The selection of an appropriate franchise affiliation affects a property’s ability to compete in its local market, generate profits, and achieve a desirable image and market orientation. Because the success of a hotel is based primarily on the cash flow generated, owners and lenders must weigh the benefits of a brand affiliation against the total cost of such a commitment.
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HVS has tracked hotel construction costs throughout the United States since 1976. Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type. In 2017, hotels in the United States operated at the highest occupancy and average rates ever recorded, with additional growth across both metrics in the 2018 year-to-date period. This 2017/18 survey reports per-room hotel development costs based on data compiled by HVS from hotel projects proposed or under construction during the 2017 calendar year.
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Our fourth-quarter Market Pulse shows key indicators of economic and hotel investment market data, including yield rates, cap rates, and additional forward-looking metrics. Takeaways reflect that equity yields have dropped concurrent with interest-rate increases, keeping discount rates in check. Additional interest-rate hikes remain on the horizon in the coming months, which could shift this dynamic. Future hotel bookings continue to add modest room-rate increases and should keep occupancy strong, bolstered by a high employment rate and healthy economy, which should be sustained through 2019.
STAY INFORMED.
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The State of Hawai‘i and the Hawai‘i Convention Center (HCC) are uniquely positioned in the US convention and meetings market. This market analysis explores the advantages and disadvantages of the HCC’s position in the convention industry. HVS analyzes the differences in the types of events, event attendance, room nights, and the financial operations between the HCC and comparable mainland convention centers.
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Attendees came together this November to attend HVS’s 8th annual Caribbean Hotel Investment Conference & Operations Summit (CHICOS), hosted at the Fairmont Southampton in Bermuda. While last year’s CHICOS focused on the Caribbean region following the immediate aftermath of the two devastating back-to-back hurricanes, this year’s CHICOS theme, “A New Day in the Sun,” discussed the positive attributes that stemmed from these tragedies of one year prior. A few key takeaways from this year’s conference are presented in the link below.
THANK YOU FOR YOUR SUPPORT.
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Washington, D.C. remains a top draw for leisure, convention, business, and government demand, with market-wide RevPAR ranking among the highest in the nation. Convention activity and tourism continue to grow, helping to push the market’s overall performance. Although the federal government remains the dominant influence in D.C., a diverse array of industries and institutions have contributed to and supported the growth and expansion of the region.
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Hotel performance in the Queen City is experiencing record highs, leading to strong interest in hotel development. In this article, we examine what is driving demand growth and how the lodging market will react to an expected supply surge. Hotel supply in the urban core of Cincinnati has grown year-over-year since 2012. Despite the staggering increases in supply, hotel occupancy levels have remained strong, while average rates have improved with the addition of higher-quality supply.
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The greater Kansas City metropolitan area, which encompasses the two-state region of Missouri and Kansas, has shown significant economic and hotel growth over the last eight years, including steady RevPAR growth between 2010 and 2017. Supported by a diversified economy, with cornerstones in the manufacturing industry and the logistics, healthcare, and government sectors, this steady economic growth and healthy hotel performance has spurred an influx of new hotel development in recent years.
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By: Brian Bisema, Erich Baum, Preston Puleo, Roth Johnson
Boston continues to strengthen on several fronts. The entrance of new lodging supply was somewhat muted coming out of the Great Recession but has been back in full force in recent years. Because of new supply factors and the insufficient room blocks made available to the BCEC by hotels in the Seaport District (limiting the all-important citywide convention calendar), the market area’s rooms revenue metrics have slowed, and a RevPAR loss is likely in 2019.
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Fort Lauderdale had a reputation for drawing notorious Spring Break travelers, but since then, a conscious effort has been made to differentiate this destination to draw higher-end, international travelers. Today, the greater Fort Lauderdale area rivals Miami in terms of luxury hotel brands, most built after 2004. The market has experienced tremendous growth since the start of the 21st century. Much of this growth was fueled by investment into high-end real estate, including residential condominiums and hotels.
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HVS, as sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 96-room TownePlace Suites by Marriott New Orleans Harvey/West Bank, an institutional quality asset located in the of Harvey, Louisiana, situated just five miles south of Downtown New Orleans. The hotel benefits from its affiliation with Marriott International, one of the world’s leading hotel companies. There are approximately 18 years remaining on the Marriott franchise license term for this TownePlace Suites by Marriott. Having recently opened in 2016, ownership has admirably maintained the property, leaving it in excellent physical condition; thus, a minimal change-of-ownership PIP would be expected.
FIND OUT MORE ABOUT THIS AND OTHER OPPORTUNITIES.
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HVS, as sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 72-room La Quinta Inn & Suites Houston Northwest Beltway 8/West Road, a limited-service hotel located in the rebounding Houston Northwest submarket. Built in 2013, the Property is in excellent physical condition; thus, a minimal change-of-ownership PIP is expected. There are approximately 15 years remaining on the franchise license term. The Property is being offered free-and-clear of any management encumbrances, providing an investor with the flexibility to restructure the Hotel’s operations, yield-management strategies, and cost-containment initiatives to maximize top-line revenues and bottom-line cash flows.
FIND OUT MORE ABOUT THIS AND OTHER OPPORTUNITIES.
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Like emerging hospitality markets over the world, Mexico and Central offer complex but rewarding opportunities for hotel and resort development. MexHIC is a forum for interaction between market participants focused on defining market drivers, and visualizing a path for sound industry growth. MexHIC also gives stakeholders a chance to hear from industry leaders and representatives of major hotel brands; network with developers, investors, lenders, and government officials; as well as engage the many challenges and opportunities of the Mexican and Central American lodging landscape.
TAKE ADVANATGE OF THE EARLY REGISTRATION FEE.
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We are looking for Analysts to join our Consulting & Valuation division, as well as a Spring or Summer Intern in Washington, D.C. We prefer to hire individuals with at least two years of full-time work history and who can demonstrate flexibility, focus, and self-motivation. Our culture puts our personal health and rest before work in the priority scale, encouraging team members to take care of themselves, while succeeding within our team (we prefer “family”).
WOULD YOU LIKE TO JOIN US?.
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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 © 2018 All Rights Reserved by HVS Privacy Policy Sent By: Lizzette Casarin HVS | Marketing Director 4775 Larimer Parkway Suite 200 | Johnstown, Colorado 80534 | | | | |