The outlook for the lodging market in Santa Barbara is fairly sunny. As a whole, the Santa Barbara–Santa Maria area finished 2001 at 68.2% occupancy, only 2.2 percentage points down from its 70.4% occupancy finish in 2000.
Prior to the events of September 11th, the market was performing at levels on par with 2000; however, since September 11th the market occupancy declined somewhat.
The San Francisco lodging industry has experienced a dramatic reversal of fortune over the last two years. In 2000, the San Francisco lodging industry was one of the hottest in the nation and posted its best performance ever.
In 2001, the Monterey market area felt the effects and aftershocks of many of the same events that caused occupancies to plummet in the greater San Francisco Bay Area.
Steve Rushmore gave a keynote address to over 1,500 lodging industry leaders attending the NYU Hospitality Investment Conference in New York City. The topic was “Valuation Trends for the U.S. Lodging Industry.”
Factors both internal and external to a hotel property affect its value, and in turn, its property tax burden. In most cases, an experienced hotel appraiser, employing a proven appeal protocol, is needed to determine whether a property is unfairly assessed.
News , articles and research from HVS International (Singapore), 1st Quarter 2002
Aspects to consider before developing a new hotel.
This article investigates whether the time has come to look at new development opportunities in Asia two years after the 1997 financial crisis.
New airports being developed around Asia could create opportunities for hotel companies to grow their brands.