Chelsey Leffet

Consulting Experience

Chelsey Leffet is the HVS Senior Vice President and leader of the Washington, D.C. Consulting and Valuation office; she has appraised hundreds of hotels in the Mid-Atlantic region, including Washington, D.C. and major Beltway markets. Chelsey has completed over 400 hours of educational coursework and 3,000+ experience hours to become a certified general appraiser in 2015. During her time at HVS, she has published articles on the dynamics of the most prominent Mid-Atlantic hotel markets, including Washington, D.C., Baltimore, Philadelphia, Annapolis, and Wilmington, as well as other industry topics, such as the American Hotel & Lodging Association’s Legislative Summit, and newsworthy events, such as Amazon’s HQ2 plans for Northern Virginia.

Chelsey has been immersed in the lodging and real estate industry since long before her tenure at HVS, graduating magna cum laude with a BS in Hospitality Management and earning a master's degree in Business Administration from East Carolina University. In Washington, D.C., Chelsey participates in the annual Bisnow Lodging Investment Summit (BLIS East), attends other local real estate group events, and participates in panel discussions related to career development and hotel branding. She helps lead and organize networking and educational events for the Washington, D.C.-based Hospitality Real Estate Society (HRES) and serves on the Education Committee for the ULI Washington Young Leaders Group.

Testimonials

"Chelsey and her team at HVS far exceeded all expectations of me and my partners. By selecting HVS to perform and issue our feasibility study on a commercial construction project, including a proposed 80-key hospitality asset, our credibility increased. The responsive and professional understanding of the industry strengthened our ability to present findings to investors, lenders and other project partners. I would recommend their services first to any contact I may interact with in our industry." – Scott Hursong, Managing Member,
Cranberry Real Estate LLC

"HVS has consistently provided me and my team with a quality product while also meeting or exceeding the timelines we agreed to." – Chad Hale, Scotiabank

"Having worked with Kathy Conroy for over two decades, both she and her colleagues at HVS never cease to amaze me with their insight and intimate market knowledge. Our ability to interact with such a highly qualified team helps us be better in our site selection and understanding market dynamics." – Mr. Rogers, Floridays Development

Employment History

August 2012 – Present
HVS 
Washington, DC

August 2011 – May 2012
ARAMARK Higher Education
Greenville, NC

May 2011 – August 2011
Lighthouse Resort Services
Corolla, NC


May 2010 – August 2010
Columbus Inn Restaurant
Wilmington, DE


May 2009-August 2009
The Bellmoor Inn & Spa
Rehoboth Beach, Delaware

Education

EAST CAROLINA UNIVERSITY
Master of Business Administration

EAST CAROLINA UNIVERSITY
Bachelor of Science, Hospitality Management

Other Specialized Training Classes Completed:

Uniform Standards of Professional Appraisal Practice – 15 hours
Basic Appraisal Procedures – 30 hours
Basic Appraisal Principles – 30 hours
General Appraiser Income Approach (Parts I and II) – 60 hours
General Appraiser Market Analysis and HBU – 30 hours
General Appraiser Report Writing and Case Studies – 30 hours
General Appraiser Sales Comparison Approach – 30 hours
General Appraiser Site Valuation and Cost Approach – 30 hours
Statistics, Modeling and Finance – 15 hours
Delaware Laws and Regulations for Appraisers – 3 hours
Supervisor Trainee Class – 4 hours
Advanced Income – 30 hours
Quantitative Analysis – 40 hours
Expert Witness for Commercial Appraisers – 15 hours
Commercial Appraisal Review – 15 hours
Advanced Market Analysis & HBU – 40 hours
General Demonstration Report Writing – 7 hours
Advanced Concepts and Case Studies – 40 hours
Capstone – Demo Report
Basic Hotel Appraising - Limited Service Hotels – 7 hours
Advanced Hotel Appraising - Full Service Hotels – 7 hours
Rates and Ratios: Making Sense of GIMs, OARs, and DCF – 7 hours
Basics of Expert Witness – 7 hours
WV Law – 2 hours
Appraisal of Owner-Occupied Commercial Properties – 7 hours
Appraisal of Land Subject to Ground Lease – 7 hours
Biennial USPAP Updates

Hotels Evaluated

Sample List for Illustrative Purposes

ARIZONA 
Motel 6, Douglas
Motel 6, Flagstaff
Motel 6 Flagstaff Butler Avenue, Flagstaff
Motel 6 Flagstaff West Woodlands, Flagstaff
Motel 6 Kingman East, Kingman
Motel 6 Kingman West, Kingman
Motel 6, Nogales
Motel 6, Prescott
Red Roof Inn Phoenix Airport, Tempe
Motel 6 Tucson Congress Street, Tucson
Motel 6 Tucson North, Tucson
Studio 6 Tucson Irvington Road, Tucson
Motel 6 Yuma East, Yuma
 
CALIFORNIA
Hyatt Place Sacramento Rancho Cordova, Rancho Cordova
 
CONNECTICUT 
Quality Inn, Cromwell
Econo Lodge, Groton
Hampton Inn, Meriden
DoubleTree by Hilton Hotel, Norwalk
Hilltop Inn & Suites, North Stonington
 
DELAWARE 
Hilton Wilmington Christiana, Newark
Proposed Hampton Inn, Wilmington
 
DISTRICT OF COLUMBIA 
ARC The Hotel
Capital Hilton
Courtyard by Marriott Washington D.C. U.S. Capitol
DoubleTree by Hilton
George Washington University Inn
Hamilton Crowne Plaza Washington
Hamilton Hotel Washington District Columbia
HighRoad Hostel DC
Hilton National Mall
Hyatt Place E-Street
L'Enfant Plaza Washington D.C.
Liaison Capitol Hill
Loews Madison Hotel
Mandarin Oriental Washington
Marriott Courtyard Hotel
Marriott Washington Wardman Park
Motel 6
Park Hyatt Washington
Proposed AC Hotel by Marriott
Proposed AC Washington D.C.
Proposed Canopy Hotel
Proposed Embassy Suites
Proposed Holiday Inn Express
Proposed Hyatt House
Proposed InterContinental Hotel
Proposed Thompson Hotel
Renaissance Dupont Circle District of Columbia
Residence Inn by Marriott Washington D.C. Vermont Avenue
St. Regis Washington District Columbia
W Hotel Washington D.C.
Washington Hilton
Washington Marriott Georgetown
Willard InterContinental Washington
Wink Washington D.C.
 
FLORIDA 
Proposed Compass Hotel, Harbor Isles
Marriott Marquis World Center, Miami
Proposed Marriott Marquis, Miami
Sheraton Tampa East, Tampa
 
HAWAII 
DoubleTree Naniloa Hotel, Hilo
 
ILLINOIS 
Best Western, Burbank
Holiday Inn Express, Lansing
Holiday Inn Express, Schaumburg
 
INDIANA 
Courtyard by Marriott, Bloomington
Best Western, Hammond
Huntington Inn, Huntington
Comfort Suites, South Bend
 
MARYLAND 
Red Roof Inn, Aberdeen
Marriott Annapolis Waterfront, Annapolis
Marriott Marquis World Center, Annapolis
Hampton Inn Downtown, Baltimore
Proposed Hilton Garden Inn, Baltimore
Radisson Hotel Baltimore Downtown Inner Harbor, Baltimore
RL Baltimore Inner Harbor, Baltimore
Comfort Inn, Beltsville
Sheraton College Park North Hotel, Beltsville
Hyatt Regency, Bethesda
La Quinta Inn & Suites, California
Comfort Inn, Clinton
Homewood Suites by Hilton, Frederick
Proposed Home2 Suites by Hilton Frederick, Frederick
Motel 6, Gaithersburg
Residence Inn by Marriott, Greenbelt
Hampton Inn & Suites Arundel Mills, Hanover
Residence Inn by Marriott Arundel Mills BWI Airport, Hanover
Residence Inn by Marriott, Hunt Valley
Holiday Inn Express, La Plata
Fairfield Inn by Marriott, Laurel
Holiday Inn Express Hotel & Suites, Laurel
Motel 6, Laurel
Proposed Aviation Station Hotel, Middle River
Proposed Hotel, Middle River
Holiday Inn Express, Prince Frederick
Days Inn, Salisbury
Courtyard by Marriott Silver Spring North, Silver Spring
Proposed Trade Point Atlantic Hotel, Sparrows Point
Comfort Inn, Towson
Proposed Fairfield Inn Westphalia, Upper Marlboro
Comfort Suites, Waldorf
Country Inn & Suites, Waldorf
Proposed Hotel, White Marsh
 
NEW JERSEY 
Proposed Hotel, Asbury Park
Howard Johnson, Bellmawr
Super 8, Bellmawr
Hampton Inn, Blackwood
Days Inn, Bordentown
Brick Motor Inn, Brick
Jetty Motel, Cape May
Madison Beach Club Motel, Cape May
Proposed Hampton Inn, Cranbury
Proposed Best Western Plus, Florence
The Palace Inn, Fords
Motel 6, Galloway
Hampton Inn, Mount Holly
Hilton Garden Inn, Mount Laurel
TownePlace Suites by Marriott, Mount Laurel
Hampton Inn, Nanuet
Hilton Garden Inn, Nanuet
Proposed Homewood Suites, Neptune
Days Inn, Parsippany
Proposed Ridgefield Park Hotel, Ridgefield Park
Proposed Rockleigh Hotel, Rockleigh
Calypso Motel, Wildwood
Quebec Motel, Wildwood
Hilton, Woodcliff Lake
 
MISSISSIPPI 
Days Inn, Hernando
 
NEBRASKA 
Comfort Inn & Suites, Omaha
 
NEW YORK 
Riveredge Resort, Alexandria Bay
Capri Whitestone Hotel, Bronx
Sheridan Hotel, Bronx
Comfort Inn, Brooklyn
Hotel Bliss, Brooklyn
Hotel BPM, Brooklyn
Holiday Inn Buffalo Airport, Cheektowaga
Proposed Hotel Conference Cneter, Elmont
Flushing Grand Hotel, Flushing
Red Roof Inn, Flushing
Hyatt Regency Long Island, Hauppauge
Monticello Motel, Monticello
Days Inn, Nanuet
King and Grove Hotel, New York City
Beacon Motel, Plattsburg
Best Western, Pompton Plains
Hampton Inn, Poughkeepsie
Holiday Inn Express, Poughkeepsie
Holiday Inn Express Long Island East End, Riverhead
Holiday Inn Airport, Rochester
Proposed Hotel Indigo, Saratoga Springs
Fairfield Inn, Spring Valley
Proposed Home2 Suites, Syracuse
Best Western, Utica
Best Western New Baltimore Inn, West Coxsackie
Quality Inn, Woodside
 
NORTH CAROLINA 
Fairfield Inn & Suites, Cary
Hampton Inn & Suites, Carolina Beach
Candlewood Suites Durham Research Triangle Park, Durham
Super 8, Garysburg
Motel 6, Roanoke Rapids
Quality Inn, Washington
 
PENNSYLVANIA 
Proposed Holiday Inn Express, Altoona
Travelodge by Wyndham, Bedford
Brookville Lodge, Brookville
Fairfield Inn, Chambersburg
Days Inn, Clearfield
Knights Inn, Clearfield
Hilton Garden Inn, Cranberry Township
Days Inn, East Stroudsburg
Proposed Holiday Inn Express, Fort Washington
Heritage Hotel, Lancaster
SpringHill Suites by Marriott, Langhorne
Proposed Hampton Inn, Media
Best Western Plus, Middletown
Staybridge Suites, Montgomeryville
Embassy Suites by Hilton Center City, Philadelphia
Hawthorne Suites, Philadelphia
Hotel Monaco, Philadelphia
Proposed AC by Marriott, Philadelphia
Proposed Hyatt Place, Philadelphia
Proposed Fairfield Inn & Suites Pittsburgh Downtown, Pittsburgh
Proposed Holiday Inn Express, Selinsgrove
Mill Stream Country Inn, Smoketown
Proposed Hyatt Place, State College
Crowne Plaza, Trevose
Radisson Philadelphia Northeast Trevose, Trevose
Proposed TownePlace Suites by Marriott, Washington
Penn Wells Hotel, Wellsboro
Proposed Fairfield Inn by Marriott, Willow Grove
 
SOUTH CAROLINA 
3 Palms Hotel, Myrtle Beach
Hampton Inn Oceanside, Myrtle Beach
 
TEXAS 
Candlewood Suites, Texarkana
 
VIRGINIA 
Alexandria Monaco, Alexandria
Courtyard by Marriott Pentagon South, Alexandria
Hilton Alexandria Old Town, Alexandria
Holiday Inn Carlyle, Alexandria
Morrison House, Alexandria
Proposed Holiday Inn Express, Alexandria
Proposed Hotel, Alexandria
Marriott Key Bridge, Arlington
Proposed Courtyard by Marriott Arlington, Arlington
Proposed Hotel, Arlington
Embassy Suites Dulles North Loudoun, Ashburn
Homewood Suites by Hilton Dulles North Loudoun, Ashburn
Fairfield Inn & Suites Dulles Airport, Chantilly
Wingate Inn Dulles Airport, Chantilly
Courtyard by Marriott Charlottesville North, Charlottesville
Best Western Plus Portsmouth, Chesapeake
Hilton Garden Inn, Chesapeake
InTown Suites Chesapeake/Greenbrier, Chesapeake
Colonial Beach Inn, Colonial Beach
Quality Inn, Covington
Proposed Hampton Inn & Suites, Culpeper
Hampton Inn Dumfries Quantico, Dumfries
Candlewood Suites, Fairfax
Hyatt Fair Lakes, Fairfax
Falls Church Marriott Fairview Park, Falls Church
Westin Tysons Corner, Falls Church
Candlewood Suites, Fredericksburg
Dunning Mills Inn, Fredericksburg
Motel 6, Front Royal
Proposed SpringHill Suites by Marriott, Gainesville
Comfort Inn, Gloucester
InTown Suites, Hampton
Motel 6, Harrisonburg
Candlewood Suites, Herndon
Lansdowne Resort, Leesburg
Motel 6, Lexington
Comfort Suites, Manassas
Proposed La Quinta Manassas, Manassas
Proposed Hotel, Manassas Park, Manassas Park
InTown Suites Newport News North, Newport News
Econo Lodge Airport, Norfolk
Econo Lodge University, Norfolk
Holiday Inn Norfolk Airport, Norfolk
Motel 6, Norfolk
Sheraton Waterside, Norfolk
SpringHill Suites by Marriott Norfolk Virginia Beach, Norfolk
Red Roof Inn Richmond South, Richmond
Motel 6 Richmond Airport Sandston, Sandston
Motel 6 Washington DC Southwest Springfield, Springfield
TownePlace Suites by Marriott, Springfield
Candlewood Suites, Sterling
Hyatt House Sterling/Dulles Airport North, Sterling
Suburban Extended Stay, Sterling
Super 8, Tappahannock
Quality Inn, Thornburg
Comfort Inn & Suites Virginia Beach - Norfolk Airport, Virginia Beach
Crowne Plaza, Virginia Beach
Motel 6, Virginia Beach
Proposed Hotel, Virginia Beach
Embassy Suites, Williamsburg
Great Wolf Lodge, Williamsburg
Hampton Inn & Suites Williamsburg Historic District, Williamsburg
Residence Inn by Marriott, Williamsburg
SpringHill Suites by Marriott, Williamsburg
Courtyard by Marriott Potomac Mills Woodbridge, Woodbridge
Fairfield Inn & Suites Potomac Mills Woodbridge, Woodbridge
Residence Inn by Marriott Potomac Mills Woodbridge, Woodbridge
Holiday Inn Express, Woodstock
 
WASHINGTON 
Best Western, Friday Harbor
Best Western Plus, Moses Lake
 
WEST VIRGINIA 
Hilton Garden Inn, Clarksburg
Hampton Inn, Elkins
Hilton Garden Inn, Morgantown

State Certification

District of Columbia
Maryland
Virginia
West Virginia

Press Coverage

Amazon's Influence on Northern Virginia's Lodging Market, 2019

My Articles

Per Diem Rates: Current & Historical Trends

This publication provides an overview of current and historical trends in the federal lodging per diem, with a focus on the per diem rates for the top hotel lodging markets, as defined by STR.

• October 17, 2019 By Chelsey Leffet

• Hotel Investments & Ownership , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles , United States , North America

HVS Market Pulse: Washington, D.C.

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, pushing the overall market performance.

• November 20, 2018 By Chelsey Leffet

• Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles , North America , United States , District of Columbia , Washington

Key Takeaways: AHLA & AAHOA’s – Legislative Action Summit 2018

Year after year, this event brings together a strong showing of hotel owners, operators, developers, investors, managers, and employees, as well as experts in government affairs and others interested in the lodging industry.

• September 19, 2018 By Chelsey Leffet

• Asset Management , Technology , Travel & Tourism , Economic Trends and Cycles , United States , North America

Market Pulse: Annapolis, MD

Recent hotel transactions show investor confidence in this high-barrier-to-entry market near the major metropolitan areas of Baltimore and D.C. This article illustrates the current conditions and lodging metrics of the Annapolis market.

• April 25, 2018 By Marcus R. Lee , Chelsey Leffet

• Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles , Annapolis , United States , Maryland , North America

Key Takeaways: AHLA & AAHOA’s – Legislative Action Summit 2017

AHLA and AAHOA held the annual Legislative Action Summit in May in Washington, DC. to bring hundreds of people together to call on members of Congress regarding issues important to the industry. The various issues are described in this article.

• June 6, 2017 By Chelsey Leffet , Kirby D. Payne

• Asset Management , Food & Beverage , Development & Construction , Architecture & Interior Design , Golf Courses and Clubs , United States

HVS Market Pulse: Washington, D.C.

Washington, D.C. remains a top draw for leisure, convention, and government demand, with market-wide RevPAR ranking among the highest in the nation. Convention demand and tourism continue to grow, helping to push the market’s overall performance.

• January 17, 2017 By Chelsey Leffet , Anne R. Lloyd-Jones

• Development & Construction , Valuations & Market Studies , Travel & Tourism , Brokerage & Transactions , Economic Trends and Cycles , District of Columbia , United States , Washington , North America

In Focus: Hampton Roads, VA

Though on the verge of an influx of new hotel supply, demand in Hampton Roads has risen in recent years, improving occupancy and allowing hoteliers to command better rates.

• December 14, 2015 By Chelsey Leffet

• Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles

Market Pulse: Annapolis, Maryland

Average rates are up and supply growth is flat in Annapolis, which bodes well for the city’s overall hotel performance picture. Have local hoteliers been able to reach a better balance between leisure, commercial, government, and group demand?

• October 27, 2014 By Chelsey Leffet , Chris Fernandes

• Travel & Tourism , Economic Trends and Cycles , Annapolis , Maryland , United States , North America

Three Key Takeaways | International Luxury Hotel Association Fast Forward 2020

During the International Luxury Hotel Association Fast Forward 2020, three hot topics emerged: lodging, authenticity, and luxury travel trends. This article discusses takeaways from the conference regarding these items.

• October 6, 2014 By Chelsey Leffet

• Development & Construction , Technology , Travel & Tourism , North America

In Focus: Washington, DC

As economic recovery resumes and tourism strengthens, Washington, D.C. remains a top draw for leisure, convention, and government demand, with area hotels achieving some of the highest RevPAR levels in the nation.

• July 14, 2014 By Chelsey Leffet , Jerod S. Byrd

• Hotel Investments & Ownership , Development & Construction , Travel & Tourism , Economic Trends and Cycles , Washington , District of Columbia , United States , North America

Market Intelligence Report 2013: Baltimore

Business, education, government, and expanding tourism and healthcare industries form the foundation of Baltimore’s economy. What should hoteliers have an eye on?

• October 21, 2013 By Chelsey Leffet , Nicole Ortiz

Market Intelligence Report 2013 Philadelphia

Unemployment in Philadelphia remains high, though the city’s broad economic base continues to slowly recover. RevPAR levels for Philadelphia hotels are expected to strengthen in the near term, with demand outpacing recent supply additions.

• August 12, 2013 By Chelsey Leffet , Jerod S. Byrd

• Economic Trends and Cycles , North America

HVS Market Intelligence Report: Greater Wilmington, Delaware

The recent recession cut into Wilmington’s hotel market as demand from financial institutions and other firms weakened; however, new projects, rising room rates, and a strengthening economy in the city and MSA are putting RevPAR on the mend.

• April 15, 2013 By Chelsey Leffet , Jerod S. Byrd

• Valuations & Market Studies , Economic Trends and Cycles , North America