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.
The YYZ hotel market has been capitalizing on growth in airport traffic. Hotel revenue growth is expected to shift from occupancy gains to rate increases as occupancy levels remain high and capital improvements to lodging facilities are completed.
Public sector involvement in convention center hotels is common due to high cost of development and lack of private capital for such investments. Many communities provide public subsidies to projects that are not feasible on a purely private basis.
Even with some 50 new hotels in Charlotte’s pipeline, the area is poised for continued growth in occupancy and average rate, with commercial and residential developments expected to continue to boost hotel demand.
Bolstered by demand from the tech industry, the greater Silicon Valley lodging market continues to achieve record RevPAR levels. However, with the entrance of new hotels, supply has begun to outpace demand, with further developments in the pipeline.
The HVS U.S. Hotel Franchise Fee Guide provides a comparative review of various hotel franchises based on their applicable franchise fees.
In this article, Luigi shares what he believes to be some of the most important factors that must be considered in the acquisition or development of a hotel, which ultimately lead to a property’s financeability, profitability, and long-term success.
Following a period of little to no new hotel supply in Boise, economic growth has brought an influx of proposed hotels along with expansions at the convention center and other major economic drivers.
The 35th America’s Cup in 2017, increased air capacity, and government incentives have helped Bermuda’s growing tourism industry and have spurred developer interest in building new luxury hotels on the island.
As tourist and investor interest grows in the game-lodge industry and wildlife destinations around the world, the article brings to light some peculiarities and challenges of the lodging industry and lists some lessons/best practices for developers.