Justin Westad

Consulting Experience

Testimonials

"HVS has a strong and current understanding of each of its markets, with local professionals and senior strategists taking the time to thoroughly understand the nature of the project; they produce quality assessments and thoughtful narrative." – Mr. David Bowd

Education

BS – School of Hospitality Leadership, DePaul University

Other Specialized Training Classes Completed:
Revenue Management
Uniform Standards of Professional Appraisal Practice – 15 hours
Basic Appraisal Principles – 30 hours
Basic Appraisal Procedures – 30 hours
General Appraiser Income Approach (Parts I and II) – 60 hours
General Appraiser Market Analysis and HBU – 30 hours
General Appraiser Site Valuation and Cost Approach – 30 hours
Real Estate Finance, Statistics, Valuation Modeling – 15 hours
General Appraiser Sales Comparison Approach – 30 hours
General Appraiser Report Writing and Case Studies – 30 hours
Commercial Appraisal Review – 15 hours
Expert Witness for Commercial Appraisers – 15 hours
Certified General Appraiser Exam – Passed
Appraisal of Fast-Food Facilities – 7 hours
Appraisal of Assisted Living – 7 hours
Appraisal of Owner-Occupied Commercial Properties – 7 hours
Intro to Uniform Appraisal Dataset – 2 hours
Biennial USPAP Updates

Employment History

2015 to present
HVS CONSULTING AND VALUATION SERVICES
Minneapolis, Minnesota

2013 – 2015
MARCUS & MILLICHAP’S NATIONAL HOSPITALITY GROUP
Chicago, Illinois

2012 – 2013
TRUMP INTERNATIONAL HOTEL & TOWER CHICAGO
Chicago, Illinois

2011 – 2012
PUBLIC CHICAGO HOTEL
Chicago, Illinois

2011
THE TERRACE AT THE TRUMP
Chicago, Illinois

2010 – 2011
ELYSIAN HOTEL
Chicago, Illinois

Qualifications

Brokerage License – Illinois

Certification in Hotel Industry Analytics (CHIA)

Hotels Evaluated

Sample List for Illustrative Purposes

ARIZONA
Proposed Hampton Inn Carefree, Carefree
Fairmont Scottsdale Princess, Scottsdale
Four Seasons Troon North, Scottsdale
 
ARKANSAS
Americas Best Value Inn, Blytheville
Proposed Embassy Suites, Jonesboro
Quality Suites, Paragould
 
CALIFORNIA
Proposed Staybridge Suites, Cathedral City
Proposed Holiday Inn Express, Hayward
Palm Mountain Resort, Palm Springs
Hyatt Place Sacramento Rancho Cordova, Rancho Cordova
 
FLORIDA
Hampton Inn & Suites, Clermont
Fairfield Inn & Suites, Orlando
 
ILLINOIS
Hyatt Place Champaign Urbana, Champaign
Proposed Curio by Hilton Navy Pier, Chicago
Proposed Studio 6 Suites Hotel, Chicago
Proposed Wells Hotel, Chicago
Fairfield Inn by Marriott St. Louis Collinsville, Collinsville
Holiday Inn & Suites, Decatur
Welcome Hotel and Suites, Decatur
Hawthorn Suites, Decatur
Sleep Inn, Decatur
Holiday Inn Express, Edwardsville
Proposed Hotel, Edwardsville
Holiday Inn, Effingham
Hyatt Place Chicago Itasca, Itasca
Proposed Tru by Hilton, Lansing
DoubleTree by Hilton Lisle Naperville, Lisle
Proposed TownePlace Suites by Marriott, Marion
Hilton Garden Inn St. Louis Shiloh O’Fallon, O’Fallon
O’Fallon Suites, O’Fallon
Proposed Hampton Inn, O’Fallon
Proposed Best Western Plus, Olney
Comfort Inn, Quincy
Holiday Inn Express Hotel & Suites Shiloh O'Fallon, Shiloh
Baymont Inn & Suites, Springfield
Proposed Holiday Inn Express, Troy
 
INDIANA
Best Western Plus, New Albany
 
IOWA
Proposed 2525 Grand, Des Moines
Proposed Courtyard by Marriott, Des Moines
Proposed Hilton Des Moines Downtown, Des Moines
Proposed Holiday Inn Express, Des Moines
Proposed Home2 Suites by Hilton, Des Moines
Proposed Hotel, Des Moines
Best Western Regency, Marshalltown
Proposed Hyatt Place, Mason City
 
KANSAS
Holiday Inn Express Hotel & Suites East Wichita I-35, Andover
Proposed Hampton Inn, Gardner
Proposed Home2 Suites by Hilton, Lawrence
Fairfield Inn & Suites by Marriott, Leavenworth
Proposed Home2 Suites by Hilton, Leavenworth
Proposed TownePlace Suites by Marriott, Leavenworth
Hyatt Place, Lenexa
Lamplighter Inn & Suites, Pittsburg
Hampton Inn & Suites by Hilton Wichita Airport, Wichita
SpringHill Suites by Marriott Wichita Airport, Wichita
 
KENTUCKY
General Nelson Inn, Bardstown
 
MINNESOTA
Proposed SpringHill Suites Vadnais Heights, Arden Hills
AmericInn Hotel & Suites Bloomington West, Bloomington
Hampton Inn Suites Minneapolis St Paul Airport Mall of America, Bloomington
Hilton Garden Inn Minneapolis Airport Mall of America, Bloomington
Hyatt Place Minneapolis Airport South, Bloomington
GuestHouse Inn, Bloomington
Minneapolis Airport Marriott, Bloomington
Proposed Autograph or Tribute Bloomington, Bloomington
Proposed Courtyard by Marriott, Bloomington
Proposed Smaaash Hotel, Bloomington
Radisson Bloomington by Mall of America, Bloomington
SpringHill Suites by Marriott Minneapolis Saint Paul Mall of America, Bloomington
Proposed Fairfield Inn & Suites by Marriott, Brooklyn Center
Fairfield Inn by Marriott Minneapolis Coon Rapids, Coon Rapids
Edgewater Hotel and Waterpark, Duluth
Proposed Fairfield Inn & Suites, Eagan
Proposed Homewood Suites by Hilton, Edina
Proposed Hotel, Edina
Proposed Boutique Hotel on Lake Minnetonka, Excelsior
Proposed Best Western Plus, Grand Rapids
Proposed Hastings Hotel, Hastings
Proposed AmericInn by Wyndham, International Falls
Mankato City Center Hotel, Mankato
Proposed Hotel Mankato, Mankato
Proposed Hotel, Maplewood
Courtyard by Marriott Minneapolis St. Paul Airport, Mendota Heights
AC Hotel by Marriott Minneapolis Downtown, Minneapolis 
DoubleTree by Hilton Hotel Minneapolis – University Area, Minneapolis
Emery Autograph Collection by Marriott, Minneapolis
The Grand, Minneapolis
Hampton Inn & Suites by Hilton University Area, Minneapolis
Hewing Hotel, Minneapolis
Hilton Garden Inn Minneapolis Downtown, Minneapolis
Hotel Minneapolis Autograph Collection, Minneapolis
The Marquette Hotel, Curio Collection by Hilton, Minneapolis
Moxy by Marriott, Minneapolis
Proposed DoubleTree @ U of M, Minneapolis
Proposed Dual-Branded Hotel, Minneapolis
Proposed Gateway Hotel Minneapolis, Minneapolis
Proposed SALT Hotel, Minneapolis
TownePlace Suites Minneapolis Downtown, Minneapolis
Proposed Holiday Inn Express, Mounds View
Proposed New Brighton Hotel, New Brighton
Hampton Inn & Suites Saint Paul Oakdale/Woodbury, Oakdale
Holiday Inn Rochester Downtown, Rochester
Marriott Rochester Mayo Clinic, Rochester
Proposed Dual-Brand IHG Rochester, Rochester
Proposed Hampton Inn & Suites by Hilton, Rochester
Proposed Hotel, Rochester
Proposed Hyatt House Rochester, Rochester
Hampton Inn by Hilton South, Rochester
Microtel Inn & Suites South, Rochester
Proposed Hyatt House, Rochester
Proposed Dual-Brand Hotel, Rochester
Quality Inn, Rochester
Residence Inn by Marriott Rochester Mayo Clinic Area, Rochester
Proposed Roseville Avid Hotel, Roseville
Proposed Hotel, Saint Cloud
DoubleTree by Hilton Saint Paul East, Saint Paul
Embassy Suites by Hilton Saint Paul Downtown, Saint Paul
Proposed Hotel, St. Paul
Residence Inn Saint Paul Downtown, Saint Paul
Saint Paul Hotel, St. Paul
Embassy Suites by Hilton, St. Paul
Proposed SpringHill Suites by Marriott, St. Paul
Residence Inn by Marriott, St. Paul
Courtyard by Marriott Saint Paul Woodbury, Woodbury
Residence Inn by Marriott Saint Paul Woodbury, Woodbury
 
MISSOURI
Hampton Inn Belton/Kansas City Area, Belton
Hampton Inn, Blue Springs
Best Western, Branson
Lynina Inn, Branson
Super 8, Branson
Crowne Plaza Saint Louis Airport, Bridgeton
Proposed Mainstay & Sleep Inn, Bridgeton
Super 8, Bridgeton
Seven Gables Inn Saint Louis, Clayton
Courtyard by Marriott Saint Louis Creve Coeur, Creve Coeur
Residence Inn by Marriott, Earth City
Quality Inn, Florissant
Proposed Home 2 Suites by Hilton, Independence
La Quinta, Joplin
21c Museum Hotel, Kansas City
Embassy Suites Grand Reserve Kansas City, Kansas City
Hotel Phillips Kansas City, Curio Collection by Hilton, Kansas City
Proposed Embassy Suites by Hilton, Kansas City
Proposed La Quinta Inn & Suites, Kansas City
Residence Inn by Marriott Kansas City Airport, Kansas City
Holiday Inn Express & Suites Kansas City - Lee's Summit, Lee's Summit
Holiday Inn Express & Suites Kansas City, Liberty
Staybridge Suites Saint Louis, Maryland Heights
Holiday Inn Express, O'Fallon
Proposed Sleep Inn, O'Fallon
Proposed Tru by Hilton O'Fallon, O'Fallon
Staybridge Suites, O'Fallon
Holiday Inn Express & Suites, Sedalia
Proposed Hampton Inn, Sikeston
Best Western Route 66 Rail Haven, Springfield
Days Inn, Springfield
Fairfield Inn & Suites by Marriott St. Louis St. Charles, Saint Charles
TownePlace Suites by Marriott St. Louis St. Charles, St. Charles
Red Lion Hotel St. Joseph, Saint Joseph
Courtyard St. Louis Westport Plaza, St. Louis
Crowne Plaza Saint Louis Airport, St. Louis
Holiday Inn Earth City, St. Louis
Holiday Inn Express & Suites St. Louis Airport, St. Louis
Marriott St. Louis West, St. Louis
Proposed EVEN St. Louis, St. Louis
Proposed Fairfield Inn & Suites St. Louis, St. Louis
Proposed Hotel, St. Louis
Proposed Hyatt, St. Louis
Proposed Moxy, St. Louis
Proposed Holiday Inn Express, St. Peters
Holiday Inn Express & Suites, Sedalia
Hampton Inn, Sikeston
Arbor Suites @ The Mall, Springfield
Best Western Route 66 Rail Haven, Springfield
Greenstay Hotel & Suites, Springfield
Proposed Best Western Vib, Springfield
Drury Inn & Suites, Valley Park
Hampton Inn, Valley Park
 
MONTANA
Proposed AC by Marriott, Bozeman
Western Motel, Hardin
Holiday Inn Express & Suites, Sidney
 
NEBRASKA
Proposed Kindler Hotel, Lincoln
Extended Stay America Omaha West, Omaha
 
NORTH DAKOTA
Noble Inn, Minot
El Rancho Motel, Williston
WoodSpring Suites, Williston
 
OHIO
Proposed Clifton Heights Hotel, Clifton Heights
 
TENNESSEE
Guest House at Graceland, Memphis
Holiday Inn, Memphis
Proposed Hyatt Regency Memphis Convention Center, Memphis
Proposed Tapestry Collection at Overton Square Memphis, Memphis
Staybridge Suites Memphis Poplar Avenue East, Memphis
Super 7, Memphis
 
WASHINGTON
Proposed Hotel Indigo, Spokane
 
WISCONSIN
Proposed Residence Inn by Marriott, Brookfield
Sheraton Milwaukee Brookfield, Brookfield
Proposed Hotel Cameron, Cameron
Hotel Northland, Green Bay
Residence Inn by Marriott, Green Bay
Proposed Hilton Garden Inn, Madison
Baymont Inn & Suites Manitowoc Lakefront, Manitowoc
Home2 Suites by Hilton, Menomonee Falls
Hilton Garden Inn, Milwaukee
Proposed Tempo by Hilton, Milwaukee
Proposed Hotel, Oshkosh
Microtel Inn & Suites, Rice Lake
Hampton Inn, Wausau

My Articles

HVS Market Pulse Update - Minneapolis - St. Paul

Rod Clough, President – Americas, interviewed Tanya Pierson, Senior Managing Director, Minneapolis and Justin Westad, Vice President, Minneapolis overseeing the Upper Midwest region, on March 23, 2021, to discuss the current market dynamics and the outlook for recovery.

• March 25, 2021 By Tanya J. Pierson , Justin Westad , Rod Clough

• Valuations & Market Studies , Economic Trends and Cycles , COVID-19 , Minnesota , United States , North America , Minneapolis , St Paul

HVS Market Pulse – Milwaukee, Wisconsin

Following nearly a decade of revitalization and growth, COVID-19 delivered a significant blow to Milwaukee similar to what was felt in nearby urban Midwestern cities. Despite Milwaukee’s longstanding history as a manufacturing powerhouse, as well as its strong financial and healthcare sectors, COVID-19 caused hotel demand to fall by 58% and ushered in a wave of work-from-home culture and major event cancellations. Where does Milwaukee go from here, and what was the impact of event cancellations?

• March 8, 2021 By Justin Westad , Amy Schmidt

• Hotel Operations , Development & Construction , Travel & Tourism , Economic Trends and Cycles , COVID-19 , Milwaukee , Wisconsin , United States , North America

HVS Market Pulse - Minneapolis-St. Paul

The Twin Cities hotel market has suffered a greater loss than that of the nation given the combined impact of the COVID-19 pandemic and civil unrest. Many hotels suspended operations between April and June, with little activity taking place in urban cores. How far has the market fallen, and what will the next few years look like?

• February 18, 2021 By Tanya J. Pierson , Justin Westad

• Hotel Operations , Development & Construction , Travel & Tourism , Economic Trends and Cycles , COVID-19 , Minneapolis , Minnesota , United States , North America

HVS Market Pulse: Minneapolis-St. Paul Lodging Market Perceptions

Albeit often not the winter weather, the lower cost of living, numerous leisure and recreational attractions, and the presence of Fortune 500 companies drives the appeal of the Twin Cities. While 2018 was a record year for the metro hospitality market, 2019 was less profitable for many of the roughly 370 hotels in the hub of the nation’s friendliest state.

• February 21, 2020 By Tanya J. Pierson , Justin Westad

• Hotel Investments & Ownership , Development & Construction , Valuations & Market Studies , Travel & Tourism , Economic Trends and Cycles , Minneapolis , Minnesota , United States , North America , St Paul

HVS Market Pulse: Minneapolis - After the Super Bowl

Minneapolis is home to many Fortune 500 companies and more than 11,000 hotel rooms. High quality of life, diversity of employers, and leisure attractions continue to entice demand and an ensuing level of hotel development to the area.

• February 27, 2019 By Tanya J. Pierson , Justin Westad

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

HVS Market Pulse: Rochester, MN – Medicine at the Forefront of Development

Anchored by the Mayo Clinic, Downtown Rochester has experienced a plethora of development attributed to the $5.6-billion Destination Medical Center (DMC) initiative, which is the largest economic development initiative in Minnesota’s history.

• February 27, 2019 By Justin Westad

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