Spokane is becoming a national meeting-and-group destination following the convention center’s expansion and the opening of a new headquarters hotel in 2015. A greater variety of groups and events are attracted to Spokane, with 2019 tracking to be a record year for the city.
Celebrating its 30th anniversary, the Asian American Hotel Owners Association (AAHOA) convention welcomed nearly 9,000 attendees in its most widely attended event in history. Reportedly, one out of every two hotels in the United States is owned by members of this important association.
Since Portland’s Old Port revitalization in the 90s, the city has become a bustling regional summer leisure destination. Portland’s two primary employment sectors—hospitality and healthcare—support the area’s strong economy and low unemployment rate.
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.
Access HVS Networking Event in Cambridge reveals strengths and challenges for New England markets.
Occupancy swung above 75% for Seattle’s hotel industry in 2014, a reflection of the city’s blossoming economy. High demand has also supported strong average rates and rising hotel values.
Unemployment rates are surging, global stock markets are crashing, commodities are collapsing, and the real estate bubble has finally burst. What moves can hotel developers make during the downturn?