Justin Westad

Consulting Experience

As a Vice President with HVS Minneapolis, Justin Westad has extensive experience throughout Upper-Midwestern markets. In addition to his work in Minneapolis, Justin focuses on appraisal and market/feasibility assignments in Kansas City, Des Moines, and St. Louis. These assignments have ranged from rural, budget motels to luxury/trophy assets in downtown districts. Justin’s past work in hotels and hospitality real estate includes positions with Marcus & Millichap’s National Hospitality Group in Chicago, where he specialized in disposition and advisory services for hotels across 13 states, and at the Trump Tower in Chicago. Justin graduated magna cum laude from the School of Hospitality at DePaul University with a BS in Lodging and Revenue Management. Following graduation, Justin has taken part in many speaking and mentoring engagements for the School of Hospitality Leadership at DePaul. He holds a Certification in Hotel Industry Analytics (CHIA) and is a licensed appraiser in multiple states.

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

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

State Certification

Minnesota (Certified General Appraiser)

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 Studio 6 Suites 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
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 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, Des Moines
Best Western Regency, Marshalltown
Proposed Hotel, Des Moines
Proposed Home2 Suites by Hilton, Des Moines
 
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
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 Courtyard by Marriott, Bloomington
Proposed Smaaash Hotel, 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 Hastings Hotel, Hastings
Proposed AmericInn by Wyndham, International Falls
Proposed Hotel Mankato, Mankato
Proposed Hotel, Maplewood
Courtyard by Marriott Minneapolis St. Paul Airport, Mendota Heights
DoubleTree by Hilton Hotel Minneapolis – University Area, Minneapolis
The Grand, Minneapolis
Hampton Inn & Suites by Hilton University Area, Minneapolis
Hewing Hotel, 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 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 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
Saint Paul Hotel, St. Paul
Embassy Suites by Hilton, St. Paul
Proposed SpringHill Suites by Marriott, St. Paul
Residence Inn by Marriott, St. Paul
 
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 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
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
 
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
Proposed Hotel Cameron, Cameron
Hotel Northland, Green Bay
Residence Inn by Marriott, Green Bay
Proposed Hilton Garden Inn, Madison
Home2 Suites by Hilton, Menomonee Falls
Hilton Garden Inn, Milwaukee
Proposed Hotel, Oshkosh
Microtel Inn & Suites, Rice Lake
Hampton Inn, Wausau

Press Coverage

STUDY: Lake of the Ozarks lagging behind in changing tourism market, 2017

My Articles

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

Market Pulse: Minneapolis - St. Paul, MN

Three distinct but adjacent markets in Minnesota account for well over half of all hotel business in the state. Driven by strong performance and growth in demand, hotel supply in Minneapolis, St. Paul, and Bloomington is on the rise.

• April 10, 2017 By Tanya J. Pierson , Justin Westad , Justin Kaminski

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

HVS Market Pulse: Branson, MO

Located in the Lakes Area of the Ozark Mountains, Branson has long been famous as a tourism destination for seniors. New amusement parks and sports venues, however, are drawing families and millennial travelers to Branson hotels.

• November 14, 2016 By Justin Westad

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