Stacey E. Nadolny, MAI

Consulting Experience

Managing Director and Senior Partner for HVS Chicago, Stacey Nadolny, MAI, has completed thousands of assignments for hotels and resorts in the Great Lakes region. Years of repeated visits to hotel markets in and around Chicago and throughout Illinois, Indiana, Michigan, and Ohio—along with the relationships formed with local hotel owners, operators, and city officials—give Stacey a deep and enduring perspective on how these hotel markets grow and change. Stacey has written articles on major regional markets, including Chicago, Columbus, Cincinnati, Cleveland, and Detroit. She earned her bachelor's degree from Cornell University's School of Hotel Administration and gained front-line hotel experience at Ithaca's Statler Hotel. She serves as a Regional Representative for the Chicago Chapter of the Appraisal Institute and as a board member for Cornell’s Center for Real Estate Finance (CREF); Stacey is also a member of the Real Estate Finance Forum (REFF) and a Designated Member of the Appraisal Institute (MAI).

Since 2012, she has hosted HVS Hotel Investment Summits in both Columbus and Chicago, which are networking events for industry participants. In addition to regular speaking engagements at major hotel events such as Hunter Conference, NYU, ROI Conference, IHLA’s General Manager’s breakfast, and the Society of Chief Appraisers, Stacey periodically conducts Hotel Valuation Seminars at both Cornell University and Michigan State University. Stacey remains active with her alma mater, having served a term as the president of her local Cornell Hotel Society Chapter and providing mentorship to current students. Most recently, she spoke at Ithaca’s [email protected], aimed at providing support for women in hospitality.

Testimonials

"We've been very pleased with multiple market feasibility studies by HVS. Their thoroughness, market knowledge, and timely services have been of great value to us as we consider hospitality project development opportunities. HVS's international reputation, when paired with its regional expertise and knowledge, carries significant weight as we present our projects to potential lenders and investors." – Mr. Watson, CL Enterprises

"Working with Stacey Nadolny and her colleague Justin Kaminski on this particular project for our team at First Hospitality Group was truly a very nice experience. Both individuals were responsive, timely, and succinct in their submittals, and the final report was nicely detailed, which was much appreciated. Thank you." – Jay Rosenthal, First Hospitality Group

"I am using HVS service for the first time. I recommend anyone who is starting a new hotel project. With their help I am going to build my first IHG property. Thank you for the outstanding work you guys did." – Kishan Patel, Budget Inn

Employment History

2007 – Present
HVS CONSULTING AND VALUATION SERVICES
Chicago, Illinois

2005 – 2006
HILLSTONE RESTAURANT GROUP
Chicago, Illinois

Education

CORNELL UNIVERSITY
Bachelor of Science - Hotel Administration

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 – 60 hours
General Appraiser Market Analysis and HBU – 30 hours
General Appraiser Site Valuation and Cost Approach – 30 hours
General Appraiser Sales Comparison Approach – 30 hours
Statistics, Modeling and Finance – 15 hours
General Appraiser Report Writing and Case Studies – 30 hours
Advanced Income Capitalization – 40 hours
Business Practices and Ethics – 8 hours
Report Writing and Valuation Analysis – 26 hours
Advanced Concepts & Case Studies – 40 hours
Fundamentals of Separating Real Property, Personal Property, and Intangible Business Assets – 15 hours
Comparative Analysis – 7 hours
PA Law Class – 2 hours
KY Supervisor and Associate Training Course – 7 hours
MI Law Class – 2 hours
Land and Site Valuation – 7 hours
Mortgage Fraud – 7 hours
Appraising Condos, Co-ops, and PUDs – 7 hours
Appraisal of Land Subject to Ground Leases – 7 hours
Sales Comparison Approach – 7 hours
Review: Theory General – 33 hours
Appraisal of Owner-Occupied Commercial Properties – 7 hours
Appraiser as an Expert Witness – 15 hours
Litigation Appraising - Specialized Topics – 15 hours
Condemnation Appraising – 15 hours
Michigan Law – 2 hours
Conditions of Chicago – 7 hours
Valuation of Breweries – 4 hours
Appraisal of Fast Food Facilities – 7 hours
Basics of Expert Witness – 7 hours
Complex Litigation – 7 hours
PA Law – 2 hours
Business Practices and Ethics – 4 hours
Golfonomics – 4 hours
Biennial USPAP Updates

Affiliations

Appraisal Institute – Designated Member (MAI)
Cornell Center for Real Estate Finance – Board Member

State Certification

Illinois
Indiana
Iowa
Michigan
Minnesota
Ohio
Pennsylvania
West Virginia
Wisconsin

Hotels Evaluated

Sample List for Illustrative Purposes

PORTFOLIO ANALYSIS
Portfolio of 8 Great Wolf Lodge Properties, Various Locations
Portfolio of 5 Full-Service Hotels for CWCapital, Various Locations
 
ALABAMA
Land Appraisal, Alabaster
Redmont (Curio Conversion), Birmingham
Proposed Boutique Hotel
Days Inn, Gadsden
Proposed Comfort Suites, Hope Hull
Proposed Country Inn & Suites, Madison
Land Appraisal, Prattville
Comfort Inn, Scottsboro
 
ARIZONA
Clarion, Yuma
 
ARKANSAS                        
Proposed Staybridge Suites, Hot Springs
Holiday Inn, Springdale
 
CALIFORNIA
Proposed Residence Inn, Cupertino
Residence Inn, Cupertino
Hotel Trio Healdsburg, Healdsburg
Proposed Hotels - Placer Creek Development, Rocklin
Proposed California's Great America Hotel, Santa Clara
Proposed Home2 Suites by Hilton and Land, Woodland
 
COLORADO
Hotel Madeline Telluride, Telluride
 
CONNECTICUT
La Quinta, New Haven
La Quinta, Stamford
 
DISTRICT OF COLUMBIA
Grand Hyatt
Proposed SpringHill Suites
 
FLORIDA
Sanibel Harbour Resort & Spa, Fort Myers
DoubleTree by Hilton Hotel Jacksonville Riverfront, Jacksonville
Hyatt Place Jacksonville Airport, Jacksonville
Microtel Inn, Jacksonville
Proposed Hyatt Place Jacksonville Downtown, Jacksonville
Residence Inn by Marriott Airport, Jacksonville
Value Place, Jacksonville
Fairfield Inn, Orlando
Suburban Extended Stay, Pensacola
SpringHill Suites, Port St. Lucie
Grand Plaza Beachfront Resort & Conference Center, Saint Pete Beach
Beachcomber Beach Resort and Hotel, Saint Petersburg Beach
Hampton Inn, Stuart
Proposed Moxy Tampa Heights, Tampa
Hampton Inn, Titusville
 
GEORGIA
Country Hearth Inn, Albany
Holiday Inn Express (Choice Conversion), Atlanta
Homewood Suites by Hilton, Augusta
Proposed Cambria Suites, College Park
Courtyard by Marriott, Dalton
Proposed Microtel Inn & Suites, Douglasville
Fairfield Inn, Kennesaw
SpringHill Suites, Kennesaw
Hampton Inn, Lawrenceville
Homewood Suites by Hilton, Macon
Value Place, Macon
Value Place West, Macon
La Quinta Inn, Newnan
Quality Inn, Oakwood
Fairfield Inn & Suites by Marriott, Valdosta
 
HAWAII
DoubleTree Naniloa Hotel, Hilo
Kahala Hotel, Honolulu
 
ILLINOIS
Proposed Fairfield Inn & Conference Center, Alsip
Holiday Inn Express, Arlington Heights
Proposed Four Points by Sheraton, Arlington Heights
Proposed Four Points and Water Park, Arlington Heights
Staybridge Suites, Aurora
Proposed Hotel Batavia, Batavia
Proposed Limited Service Hotel Belvidere, Belvidere
Holiday Inn, Bolingbrook
Proposed Avid Bolingbrook, Bolingbrook
Proposed Hyatt Place Bolingbrook, Bolingbrook
Proposed Hotel Burbank, Burbank
Proposed Sleep Inn, Canton
Proposed Downtown Hotel, Centralia
Microtel Inn, Champaign
Aloft Chicago Mag Mile, Chicago
Blackstone Autograph Collection, Chicago
Cambria Hotel & Suites Chicago Loop Theatre District, Chicago
Chicago Market Data, Chicago
Comfort Suites Michigan Avenue, Chicago
Crowne Plaza Chicago Metro, Chicago
Dana Hotel, Chicago
Fairfield Inn & Suites by Marriott Chicago Downtown, Chicago
Godfrey Hotel Chicago, Chicago
Hampton Inn Chicago Loop Near Michigan Avenue, Chicago
Hampton Inn Majestic Chicago Theatre District, Chicago
Hard Rock Hotel, Chicago
Home2 Suites by Hilton Chicago River North, Chicago
Homewood Suites by Hilton Chicago Downtown West Loop, Chicago
Hotel EMC2, Chicago
Hotel Palomar, Chicago
Inn of Chicago Magnificent Mile, Chicago
JW Marriott, Chicago
Kimpton Burnham Hotel, Chicago
Kimpton Hotel Palomar Chicago, Chicago
MileNorth Hotel, Chicago
Peninsula, Chicago
Proposed Autograph Collection Hotel, Chicago
Proposed Canopy by Hilton, Chicago
Proposed Curio by Hilton Navy Pier, Chicago
Proposed Dual-Branded Hotel, Chicago
Proposed Even, Chicago
Proposed Hampton Inn & Home2 Suites, Chicago
Proposed Hampton Inn Lincoln Park, Chicago
Proposed Hilton Garden Inn/Canopy, Chicago
Proposed Home2 Suites by Hilton Chicago Midway, Chicago
Proposed Hotel West North Avenue Chicago, Chicago
Proposed Hotel, Chicago
Proposed Hotel Chinatown, Chicago
Proposed Hyatt House, Chicago
Proposed Limited-Service Hotel, Chicago
Proposed O'Brien's Hotel Old Town, Chicago
Proposed Studio 6 Suites Hotel, Chicago
Proposed West Loop Hotel, Chicago
Proposed Westin Chicago Midway, Chicago
Radisson Blu, Chicago
Raffaello Hotel, Chicago
SpringHill Suites by Marriott, Chicago
Staypineapple, An Iconic Hotel, The Loop Chicago, Chicago
Waldorf Astoria, Chicago
Wit, a DoubleTree Hotel, Chicago
Proposed Fairfield by Marriott, Crystal Lake
Proposed Fairfield Inn & Suites, Des Plaines
Proposed Holiday Inn Express, Des Plaines
Proposed Hotel, Des Plaines
Radisson Chicago O'Hare, Des Plaines
Proposed Avid Downers Grove, Downers Grove
Proposed Tru by Hilton Elk Grove, Elk Grove
Hilton Orrington, Evanston
Proposed Hotel Fox Lake, Fox Lake
Holiday Inn Gurnee Convention Center, Gurnee
KeyLime Cove Water Park Resort & Hotel, Gurnee
Holiday Inn Express, Hillside
Hyatt Place Chicago Hoffman Estates, Hoffman Estates
Westin, Itasca
Proposed Hyatt Place Lake Forest, Lake Forest
Holiday Inn Express Chicago South Lansing, Lansing
Proposed Country Inn & Suites, Lansing
Kaskaskia Hotel & Conference Center, LaSalle
Homewood Suites by Hilton, Lincolnshire
Hyatt Place, Lombard
Proposed Home 2 Suites, Loves Park
Fairfield Inn & Suites by Marriott, Marion
Proposed Best Western Glo, McCook
Proposed Holiday Inn Express & Suites, Mokena
Proposed Hyatt/Hyatt House, Moline
Hampton Inn, Naperville
Hyatt Place Bloomington/Normal, Normal
Proposed Home2 Suites Normal, Normal
Proposed MyPlace Suites, North Aurora
Renaissance Chicago North Shore Hotel, Northbrook
Sheraton, Northbrook
Drake, Oak Brook
Homewood Suites by Hilton Orland Park, Orland Park
Proposed Hampton Inn, Pontiac
Proposed Hotel Rantoul, Rantoul
Fairfield Inn & Suites Rockford, Rockford
Lexington Cliffbreakers Riverside Resort, Rockford
Proposed Staybridge Suites, Romeoville
Sheraton Chicago O'Hare Airport Hotel, Rosemont
Courtyard by Marriott Chicago Saint Charles, Saint Charles
Hilton Garden Inn, Saint Charles
Hampton Inn by Hilton, Schaumburg
Hyatt Regency Woodfield, Schaumburg
Days Inn Chicago Joliet Shorewood, Shorewood
Proposed Hotel, Skokie
Proposed Limited-Service Hotel, South Elgin
State House Inn, Springfield
Holiday Inn Chicago Tinley Park Convention Center, Tinley Park
Proposed Courtyard, Tinley Park
Proposed Holiday Inn, Tinley Park
Proposed Racino Hotel, Tinley Park
Proposed Residence Inn, Tinley Park
Proposed Hotel, Tremont
Proposed Hotel, Vernon Hills
Hyatt House Chicago Naperville Warrenville, Warrenville
Hyatt Place Chicago Naperville Warrenville, Warrenville
Proposed TownePlace Suites, Waukegan
Proposed Residence Inn, Wilmette
 
INDIANA
Hampton Inn, Bloomington
Proposed Embassy Suites, Bloomington
Proposed Graduate, Bloomington
Proposed Hotel Carmichael, Carmel
Proposed Best Western, Clarksville
Proposed Hotel, Columbus
Proposed Hampton Inn & Suites, Crown Point
Four Points by Sheraton, Elkhart
Proposed DoubleTree, Evansville
Proposed Hyatt Place, Evansville
Comfort Suites, Fort Wayne
Courtyard by Marriott Fort Wayne Downtown at Grand Wayne Convention Center, Fort Wayne
Hampton Inn, Fort Wayne
Hilton Fort Wayne at the Grand Wayne Convention Center, Fort Wayne
Proposed Boutique Hotel Fort Wayne, Fort Wayne
Proposed Home2 Suites & Hilton Garden Inn, Fort Wayne
TownePlace Suites by Marriott, Fort Wayne
Proposed Hampton Inn & Suites, Hammond
Country Inn & Suites, Indianapolis
Hampton Inn NE Castleton, Indianapolis
Hilton Garden Inn Indianapolis Downtown, Indianapolis
Proposed Aloft Indianapolis, Indianapolis
Proposed Cambria Suites, Indianapolis
Proposed Extended Suites, Indianapolis
Proposed Hotel Indianapolis, Indianapolis
Proposed Residence/SpringHill Suites, Indianapolis
Proposed Tribute Indianapolis, Indianapolis
Residence Inn, Indianapolis
Fairfield Inn, Jeffersonville
TownePlace Suites, Jeffersonville
Proposed Hotels (Two Scenarios), Lafayette
Proposed Hotel La Porte, La Porte
Proposed Hampton Inn & Suites, Lawrenceburg
Proposed Hotel & Events Center, Lawrenceburg
Quality Inn & Suites, Lebanon
Proposed Hotel, Madison
Candlewood Suites Merrillville, Merrillville
Motel 6, Mishawaka
Hampton Inn & Suites, Munster
Proposed SpringHill Suites by Marriott, Munster
Holiday Inn Express New Albany, New Albany
Cambria Suites Indianapolis Airport, Plainfield
Proposed Avid Plainfield, Plainfield
Staybridge Suites, Plainfield
Knights Inn, South Bend
Proposed Embassy Suites, South Bend
Fairfield Inn by Marriott, Valparaiso
Proposed Hampton Inn, Vincennes
Hampton Inn, Warsaw
Proposed Fairfield Warsaw, Warsaw
Hilton Garden Inn, West Lafayette
 
IOWA
Chase Hotel Suites, Clive
Proposed Home2 Suites by Hilton, Des Moines
Proposed Select-Service Hotel, Iowa City
Hampton Inn & Suites, Marshalltown
Proposed Hyatt Place, Mason City
 
KANSAS
Days Inn, Newton
 
KENTUCKY
Hampton Inn, Covington
Proposed Hotel, Covington
Radisson Cincinnati Riverfront, Covington
Courtyard, Florence
Hilton Cincinnati Airport, Florence
Proposed Hotel, Fort Thomas
Proposed Red Mile Hotel, Lexington
Residence Inn, Lexington
Hampton Inn, Louisville
Marriott, Louisville
Proposed Aloft Hotel, Louisville
Proposed Hilton Garden Inn, Louisville
Proposed Independent Hotel, Louisville
Residence Inn, Louisville
Fairfield Inn, Mount Sterling
Proposed Residence Inn by Marriott, Newport
 
LOUISIANA
Sheraton, Metairie
 
MARYLAND
Proposed Residence Inn, Germantown
Comfort Suites BWI (Holiday Inn & Suites Conversion), Linthicum Heights
 
MASSACHUSETTS
Proposed Residence Inn, Chelsea
 
MICHIGAN
Proposed Extended Stay Candlewood Suites, Auburn Hills
Proposed Courtyard by Marriott, Benton Harbor
Proposed Hotel Birmingham, Birmingham
Proposed Hotel, Bridgman
Proposed Home2 Byron Center, Byron Center
Proposed Comfort Inn & Suites, Clarkston
Comfort Suites Grand Rapids North, Comstock Park
Holiday Inn Express, Dearborn Southwest Detroit Area, Dearborn
Staybridge Suites Dearborn Michigan, Dearborn
Detroit Foundation Hotel, Detroit
Element Detroit at the Metropolitan, Detroit
Proposed Boutique Hotel, Detroit
Proposed Foundation Hotel, Detroit
Proposed Whittier Hotel, Detroit
Hampton Inn, East Lansing
Proposed Graduate East Lansing, East Lansing
Proposed Hotel East 1st Street, Flint
Proposed Hotel Saginaw Street, Flint
Crowne Plaza Grand Rapids Airport, Grand Rapids
Hampton Inn & Suites Grand Rapids Airport, Grand Rapids
SpringHill Suites Grand Rapids Airport, Grand Rapids
Residence Inn, Holland
Candlewood Suites, Kalamazoo
Hampton Inn, Kalamazoo
Residence Inn, Kalamazoo
TownePlace Suites, Kalamazoo
Proposed Dual-Brand Hyatt, Lansing
Embassy Suites, Livonia
Proposed Fairfield by Marriott, Monroe
Proposed TownePlace Suites by Marriott, Monroe
Proposed TownePlace Suites/Fairfield Inn by Marriott, Monroe
Proposed Microtel Inn & Suites, Muskegon
Hilton Garden Inn, Plymouth
Hampton Inn, Port Huron
Proposed Best Western Harrington Inn, Port Huron
Ramada (Radisson Conversion), Romulus
Country Inn & Suites by Carlson, Saginaw
St Clair Inn, Saint Clair
Inn at Harbor Shores, Saint Joseph
Best Western Premier Southfield, Southfield
Embassy Suites, Southfield
Holiday Inn (Conversion to Best Western), Southfield
Proposed SpringHill Suites by Marriott Sterling, Sterling Heights
Hampton Inn, Stevensville
Hotel Indigo, Traverse City
Park Place, Traverse City
Proposed Full-Service Hotel Warren, Warren
Ann Arbor by Marriott Ypsilanti at Eagle Crest, Ypsilanti
 
MINNESOTA
Hilton Garden Inn Minneapolis Airport Mall of America, Bloomington
Radisson Bloomington by Mall of America, Bloomington
Sheraton, Bloomington
Proposed Hotel Mankato, Mankato
Proposed Select-Service Hotel at Red Baron Arena and Expo, Marshall
Grand Hotel Minneapolis, Minneapolis
Proposed Hotel, St. Paul
 
MISSISSIPPI                      
Proposed Avalon, Biloxi
Fairfield Inn, Hattiesburg
Knights Inn, Hattiesburg
La Quinta Inn, Hattiesburg
Fairfield Inn, Jackson
Proposed Courtyard by Marriott, Meridian
Chuka Inn at Dancing Rabbit, Philadelphia
 
MISSOURI
M Star Hotel, Hayti
Proposed Boutique Hotel, Kansas City
Proposed Hampton Inn, Kansas City
Proposed Hotel, Kansas City
Proposed TownePlace Suites, Liberty
 
NEVADA
Days Inn, Winnemucca
 
NEW HAMPSHIRE
EF Lane Hotel, Keene
 
NEW JERSEY
Sheraton, Eatontown
Proposed Hotel, Hamilton
Proposed Hotel, Parsippany
Courtyard by Marriott, Princeton
 
NEW YORK
Proposed Harbor Center Marriott Hotel, Buffalo
Candlewood Suites, Evans Mills
Country Inn & Suites, Ithaca
Econo Lodge, Ithaca
Proposed Hotel, Ithaca
Proposed DoubleTree by Hilton, Jamestown
Hampton Inn, Middletown
Motel De Soto, Olean
Hyatt Regency, Rochester
Proposed Courtyard by Marriott, Syracuse
Proposed Residence Inn by Marriott, Syracuse
 
NORTH CAROLINA
Courtyard by Marriott, Carolina Beach
Proposed Hampton Inn & Suites, Carolina Beach
Courtyard by Marriott, Charlotte
Comfort Suites, Lexington
Country Hearth Inn, Lexington
Fairfield Inn & Suites by Marriott, Smithfield
Hampton Inn Fort Bragg, Spring Lake
Candlewood Suites, Wake Forest
 
NORTH DAKOTA
Holiday Inn Express Minot South, Minot
Holiday Inn Minot Riverside, Minot
 
OHIO                    
Proposed Boutique Hotel, Akron
Proposed Inn and Conference Facility – University of Akron, Akron
Proposed Hampton Inn, Alliance
Days Inn, Ashland
Holiday Inn Express, Ashtabula
Hampton Inn, Athens
Proposed Fairfield Inn by Marriott, Athens
Aurora Inn (Conversion to Ascend), Aurora
Proposed Aurora Inn, Aurora
Econo Lodge, Austintown
Hilton Cleveland East, Beachwood
Residence Inn, Beachwood
Proposed SpringHill Suites, Beavercreek
SpringHill Suites Dayton Beavercreek, Beavercreek
Proposed Hampton Inn, Bellefontaine
Proposed Boutique Hotel, Berea
Embassy Suites, Blue Ash
Proposed Hotel, Bowling Green
Holiday Inn Express, Brookville
Proposed Comfort Inn, Brookville
Sleep Inn, Brunswick
AmeriHost Inn, Cambridge
Holiday Inn, Cambridge
McKinley Grand Hotel, Canton
Proposed Hotel, Canton
Proposed Pro Football HOF Hotel, Canton
Proposed Home2 Suites by Hilton, Centerville
Anderson Township Hotel, Cincinnati
Courtyard by Marriott, Cincinnati
Fairfield Inn & Suites by Marriott Cincinnati Uptown/University Area, Cincinnati
Howard Johnson, Cincinnati
Proposed Fairfield Inn by Marriott, Cincinnati
Proposed Hampton Inn/Homewood Dual Brand, Cincinnati
Proposed Hotel, Cincinnati
Proposed Renaissance, Cincinnati
Ramada Plaza Cincinnati Sharonville, Cincinnati
Best Western Cleveland Airport, Cleveland
Hilton, Cleveland
Holiday Inn Express, Cleveland
Proposed Dively Center Hotel, Cleveland
Proposed Hotel, Cleveland
Proposed Foundry A Dreams Hotel, Cleveland
University Inn, Cleveland
Best Western Columbus Airport, Columbus
Cambria Suites, Columbus
Candlewood Suites, Columbus
Comfort Suites, Columbus
Courtyard Columbus Worthington, Columbus
Courtyard Easton, Columbus
Days Inn, Columbus
DoubleTree Suites Columbus Downtown, Columbus
Econo Lodge, Columbus
Fairfield Inn, Columbus
Hampton Inn, Columbus
Hampton Inn & Suites, Columbus
Hilton Easton, Columbus
Hometown Inn (Land Appraisal), Columbus
Hyatt on Capitol Square, Columbus
Proposed Aloft/Element, Columbus
Proposed Cambria Suites, Columbus
Proposed Canopy, Columbus
Proposed Hampton Inn, Columbus
Proposed Hollywood Casino Hotel, Columbus
Proposed Holiday Inn, Columbus
Proposed Holiday Inn Express, Columbus
Proposed Homewood Suites, Columbus
Proposed Hotel, Columbus
Proposed Hyatt Place, Columbus
Proposed Joseph Update, Columbus
Proposed Le Meridien, Columbus
Proposed Limited-Service Hotel, Columbus
Proposed Select-Service Hotel, Columbus
Residence Inn, Columbus
Sheraton at Capitol Square, Columbus
University Plaza Hotel Conversion, Columbus
Westin, Columbus
Proposed Extended-Stay Hotel, Cridersville
Sheraton Suites Conversion, Cuyahoga Falls
Dayton Grand Hotel, Dayton
Proposed Hampton Inn, Dayton
Proposed Home2 Suites by Hilton, Dayton
Proposed Residence Inn by Marriott, Dayton
TownePlace Suites, Dayton
Hospitality Inn, Dover
Courtyard Columbus Dublin, Dublin
Holiday Inn Express Columbus Dublin, Dublin
Econo Lodge, Eaton
Proposed Boutique Hotel, Elyria
Country Inn & Suites, Fairborn
Fairfield Inn & Suites by Marriott, Findlay
Proposed Hilton Garden Inn, Findlay
Quality Inn, Franklin
Proposed Conference Center Hotel, Greene
Proposed Home2 Suites, Greene
Holiday Inn Express, Grove City
Proposed Courtyard by Marriott, Grove City
Red Roof Inn, Grove City
Quality Inn, Heath
Americas Best Value Inn, Huber Heights
Comfort Inn, Huber Heights
Crowne Plaza Cleveland South Independence, Independence
Embassy Suites Cleveland Rockside, Independence
Residence Inn, Independence
Proposed Hotel Lakewood, Lakewood
Nationwide Hotel and Conference Center, Lewis Center
Days Inn, Lima
Proposed Comfort Suites, Madison
Holiday Inn Express, Marion
Comfort Inn, Marysville
Holiday Inn Express, Marysville
Proposed Fairfield Inn by Marriott, Marysville
Proposed Dual-Brand Marriott, Maumee
Proposed Home2 Suites by Hilton, Maumee
Proposed Microtel Inn & Suites, Maumee
Baymont Inn & Suites, Mayfield
Best Western, Mentor
DoubleTree by Hilton, Miamisburg
Proposed Staybridge Suites, Miamisburg
Manchester Inn (Closed), Middletown
Proposed TownePlace Suites by Marriott, Milford
Proposed Hyatt Place, New Albany
Holiday Inn Express, Newton Falls
Hampton Inn North Olmsted Cleveland Airport, North Olmsted
Proposed Hampton Inn & Suites, North Olmsted
Hampton Inn Toledo Oregon, Oregon
Holiday Inn Express Toledo Oregon, Oregon
Proposed Hampton Inn, Oregon
The Elms Holiday Inn, Oxford
Comfort Suites, Perrysburg
Best Western, Pickerington
Hampton Inn, Pickerington
Quality Inn, Piqua
Holiday Inn Express, Port Clinton
Proposed Hotel Developments, Rockside
Proposed Comfort Suites, Rootstown
American Inn, Rossford
Country Inn, Rossford
Microtel Inn & Suites by Wyndham, Saint Clairsville
Best Western, Sandusky
Comfort Inn, Sandusky
Great Wolf Lodge, Sandusky
Maui Sands Resort & Indoor Waterpark, Sandusky
Proposed Cedar Point Sandusky Hotel, Sandusky
Sleep Inn, Sandusky
DoubleTree Guest Suites, Sharonville
Econo Lodge, Sidney
Hilton Homewood Suites, Solon
Proposed Holiday Inn Express, Springfield
Townhouse Motel, Springfield
Proposed Staybridge Suites, Stow
Econo Lodge, Streetsboro
Holiday Inn Express, Sunbury
Comfort Inn, Toledo
Fairfield Inn & Suites by Marriott Toledo North, Toledo
Grand Plaza (Renaissance Conversion), Toledo
Hampton Inn & Suites Toledo/Westgate, Toledo
Proposed Courtyard, Toledo
Proposed Hotel, Toledo
Proposed Residence Inn, Toledo
Proposed University of Toledo Hotel, Toledo
Best Western Inn, Troy
Hampton Inn & Suites, West Chester
Proposed Hotel, Westerville
Proposed Hyatt Place, Westerville
Days Inn, Willoughby
Holiday Inn Columbus Worthington, Worthington
Holiday Inn, Youngstown
Proposed Wick Pollock Inn, Youngstown
Proposed Youngstown State University Hotel, Youngstown
 
OKLAHOMA
Microtel Inn, Idabel
Proposed SpringHill Suites, Oklahoma City
 
PENNSYLVANIA               
Proposed Red Collection, Allentown
Courtyard, Altoona
Holiday Inn, Beaver Falls
Avalon Hotel, Erie
Proposed Convention Hotel Update, Erie
Proposed Courtyard Update, Erie
Proposed Embassy Suites, Erie
Proposed Hotel, Erie
Proposed Limited-Service Hotel, Erie
Sheraton Erie Bayfront Hotel, Erie
TownePlace Suites, Harrisburg
Quality Inn, Hermitage
Proposed Homewood Suites, McCandless
Hampton Inn & Suites, Mercer
Courtyard by Marriott Shadyside, Pittsburgh
Proposed Embassy Suites, Pittsburgh
Proposed Even Hotel at Macy’s Building, Pittsburgh
Wyndham Garden Hotel, Pittsburgh
SpringHill Suites by Marriott, Washington
Hilton Garden Inn, Wilkes-Barre
Proposed Hotel, Zelienople
 
RHODE ISLAND
La Quinta, Warwick
 
SOUTH CAROLINA
Comfort Suites, Columbia
Hampton Inn, Rock Hill
Value Place, Simpsonville
 
SOUTH DAKOTA
Proposed Splash Resort and Waterpark, Sioux Falls
 
TENNESSEE
Hampton Inn Knoxville Airport, Alcoa
Antioch Quarters Inn & Suites, Antioch
Comfort Inn, Hixson
Proposed Graduate Hotel, Nashville
 
TEXAS
Americas Best Value Inn, Abilene
Holiday Inn Hotel & Suites Houston West Westway Park, Houston
Proposed Kalahari Resort & Convention Center Round Rock, Round Rock
Hawthorn Suites, Wichita Falls
 
VIRGINIA
Best Western Rosslyn Iwo Jima, Arlington
Courtyard by Marriott, Charlottesville
Proposed Extended-Stay Hotel, Hopewell
Courtyard by Marriott, Lynchburg
Country Inn & Suites, Manassas
Fairfield Inn & Suites, Manassas
DoubleTree Airport, Richmond
Days Inn, Salem
Courtyard by Marriott North, Virginia Beach
Courtyard by Marriott South, Virginia Beach
Governors Inn, Williamsburg
Quality Inn, Williamsburg
Wedmore Place, Williamsburg
Proposed Holiday Inn, Wytheville
 
WASHINGTON
Proposed Hotel, Shelton
 
WEST VIRGINIA
Hampton Inn, Barboursville
Econo Lodge, Martinsburg
Microtel Inn and Suites by Wyndham, Triadelphia
 
WISCONSIN
Proposed Lifestyle Hotel, Brookfield
Proposed Hotel Cameron, Cameron
Proposed Hotel, Fond du Lac
Retlaw Plaza Hotel Fond Du Lac, Fond Du Lac
Proposed Hotel Green Bay, Green Bay
Proposed Embassy Suites Even, Madison
Proposed Hotel, Madison
Fairfield Inn & Suites by Marriott Milwaukee Downtown, Milwaukee
Hampton Inn, Milwaukee
Hampton Inn Downtown, Milwaukee
Hilton Garden Inn Milwaukee Downtown, Milwaukee
Hilton Garden Inn Milwaukee Park Place, Milwaukee
Proposed Holiday Inn Express, Milwaukee
Proposed Hotel, Milwaukee
Proposed SpringHill Suites by Marriott, Milwaukee
SpringHill Suites Milwaukee Downtown, Milwaukee
Proposed Hotel, Mount Pleasant
Proposed Hotel, Oak Creek
Proposed Fairfield Inn & Suites, Pleasant Prairie
Radisson, Pleasant Prairie
Delta by Marriott (Conversion), Racine
Proposed Hyatt Place Racine, Racine
Racine Architect Hotel & Conference Center, Racine
Proposed Dual-Choice Hotel, Sturtevant
Proposed Hyatt Place, Verona
Proposed Upscale Hotel, Waukegan
Proposed Renaissance, Wauwatosa
Proposed SpringHill Suites, Wauwatosa
Great Wolf Lodge, Wisconsin Dells
Wilderness Hotel & Resort, Wisconsin Dells
 
INTERNATIONAL
 
Mexico
Elan Resort & Spa, Cancun

Speaking Engagements

Hotel Valuation Seminar – Cornell University, Michigan State University
 
Hunter Hotels Conference
 
Introduction to Hotel Finance – Michigan State University
 
Cobblestone Hotels Conference
 
Hotel Market Connections – Columbus 2012, 2013, 2014; Chicago 2015, 2016

Press Coverage

Oversupply concerns loom over Chicago, 2017 Diverse demand drivers drive Columbus hotel development, 2016 HVS Market Connections showcase city performance, 2016

Columbus plans to regulate home-sharing services, worrying Airbnb hosts, 2018

My Articles

HVS Market Pulse: Toledo, Ohio

Toledo has long lived in the shadow of its neighbor to the north, Detroit, with an economy steeped in auto manufacturing and industry. The city is known for Jeep, Jamie Farr, and Tony Packo’s, but a thriving lodging market? HVS’s Stacey Nadolny investigates the changing dynamics in her hometown.

• June 20, 2019 By Stacey E. Nadolny

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

HVS Market Pulse: Chicago Ascending

Bolstered by dozens of companies relocating to the urban core and the country’s largest convention center, Chicago has solidified itself as one of the most vibrant and active lodging markets in the United States.

• March 20, 2019 By Dana W. Floberg , Stacey E. Nadolny

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

HVS Market Pulse: Downtown Chicago, IL

Chicago continues to attract hotel development to the downtown market, thanks to its proximity to global transportation and well-educated workforce. The installation of Chicago’s 60th crane in 2017 suggests that development is still robust.

• March 26, 2018 By Dana W. Floberg , Stacey E. Nadolny

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

HVS U.S. Hotel Development Cost Survey 2016/17

Each year, HVS researches development costs from our database of actual hotel construction budgets, industry reports, and franchise disclosure documents. These sources provide the basis for our range of component costs per room.

• November 1, 2017 By Stacey E. Nadolny

• Hotel Investments & Ownership , Lending , Development & Construction , Valuations & Market Studies , Economic Trends and Cycles , North America , United States

In Focus: Chicago, IL

Demand from a variety of sources has risen in Chicago, pushing occupancy to a ten-year high in 2015. More than 6,000 new rooms are expected in the market over the next three years, though average rates and hotel values should continue to grow.

• December 20, 2016 By Stacey E. Nadolny , Dana W. Floberg

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

HVS U.S. Hotel Development Cost Survey 2015/16

Each year, HVS researches development costs from our database of actual hotel construction budgets, industry reports, and franchise disclosure documents. These sources provide the basis for our range of component costs per room.

• July 11, 2016 By Stacey E. Nadolny

• Hotel Investments & Ownership , Lending , Development & Construction , Valuations & Market Studies , Economic Trends and Cycles , United States , North America

Five Key Takeaways - Hunter Conference 2015

The 2015 Hunter Hotel Conference shone light on how hoteliers can take advantage of present performance trends and high demand. Experts also raised concern over rising costs and a tipping point for new supply.

• April 13, 2015 By Stacey E. Nadolny , Heidi S. Nielsen , Michael E. Brophy

• Hotel Investments & Ownership , Travel & Tourism , Economic Trends and Cycles , Hotel Brands , North America , North America

Market Intelligence Report 2013: Cleveland

This past year, Cleveland has gained a major casino, a world-class aquarium, and a state-of-the-art convention center. How does this impact the lodging market?

• October 7, 2013 By Stacey E. Nadolny

• Economic Trends and Cycles , North America

Market Intelligence Report 2013 Cincinnati

Cincinnati’s workforce is set to return to pre-recessionary proportions by 2014, making the city’s economic recovery among the fastest in the Midwest. Cincinnati’s hotel industry has realized slower growth, though demand and ADR are trending upward.

• September 3, 2013 By Meghan B. Larmore , Stacey E. Nadolny

• Economic Trends and Cycles , North America

Market Intelligence Report 2013 Columbus, Ohio

Unemployment and office vacancy has been dropping in Columbus, the state capital and a major center for financial and healthcare services in Ohio. Hotel occupancy hit a record high in 2012, and average rates are gaining ground.

• July 22, 2013 By Stacey E. Nadolny

• Economic Trends and Cycles , North America

Detroit Market Intelligence Report

Unemployment is high, automakers are still in the red, and the city’s hotel industry hangs in the balance. But there’s more happening in Detroit than the statistics reveal.

• November 13, 2009 By Stacey E. Nadolny

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

Hotel Demand Drivers in Cincinnati

A mix of cultural and commercial projects continues to steer businesspeople, tourists, and conventioneers toward Cincinnati, giving area hoteliers some hope in the tough economy.

• February 27, 2009 By Stacey E. Nadolny

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

Market Intelligence Report: Cleveland, Ohio

Business growth is in league with happenings on the hotel front to help forge new promise for this evolving city.

• October 31, 2008 By Stacey E. Nadolny

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

HVS Market Intelligence Report: Columbus, Ohio

Hoteliers stand to reap the benefits of this capital city’s revitalization, especially downtown.

• September 26, 2008 By Stacey E. Nadolny

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