Insights & Publications

We have written hundreds of articles about all aspects of hospitality including hotel valuations, investing, lending, operations, asset management, sales and marketing, public relations, and so forth. HVS invites you to download and share these articles, with our compliments.
32 results

US Hotel Value Gains Moderate as RevPAR Growth Slows and Cap Rates Rise

Hotel assets continued to appreciate in 2016, but at a more modest pace due to slowing RevPAR growth and a rise in cap rates. The stock market rally following the election has led to cautious optimism about what 2017 will bring.

HVS Market Pulse: San Francisco, CA

The San Francisco hotel market experienced strong momentum in 2016, matching the city’s vigorous economy. Although the development pipeline is anticipated to expand, the construction and opening of new hotels should continue at a modest pace.

Market Pulse: Napa, California

California’s Napa Valley draws thousands of national and international tourists each year. With demand on the rise and occupancy reaching new heights, the local hotel market is on the verge of an unprecedented upswing in supply.

Positive Operating Leverage Results in Another Year of Hotel Value Gains; Cap Rates Start to Rise

Five years of steady cap rates and rising NOI have resulted in significant U.S. hotel asset appreciation. The current economic landscape is likely to cause hotel cap rates to rise in 2016, moderating future value gains.

Steady Cap Rates Support Strong Hotel Value Gains in the USA

Hotel values reached new peak levels in 2014, fueled by stellar hotel performance, and the availability and low cost of capital. Capitalization rates held steady as competition for quality assets remained strong.

ALIS 2014 Conference: HVS Presents Industry Outlook & US Hotel Transactions

ALIS presentation featured in the "Numbers" panel discussion on January 28, 2014, provides a recap of national market activity in 2013, covers current/recent cap rates, examines cap ex impacts on hotel cap rates/values, and gives an outlook for 2014.

Hotel Capitalization Rates and the Impact of Cap Ex

Hotel capitalization rates hold steady in current market environment, yet increasing need for capital improvements as assets age can affect values and rates of return. This article evaluates impact of cap ex on hotel cap rates and exit strategies.

Hotel Capitalization Rates Stabilize as Market Forces Create State of Equilibrium

Hotel capitalization rates are stabilizing due to the counter balancing forces of a healthy transaction market, a shortage of product for sale, the low cost of capital and the slowing of net income gains.

Announcing: Hotel Investments: Issues and Perspectives, Fifth Edition, including HVS San Francisco’s Suzanne R. Mellen’s “ Hotel Valuation” chapter.

Including contributions from the hospitality industry’s top investment experts, this must-read book focuses on current trends in hotel valuation, methodology and issues affecting hotel investment.

Hotel Transaction Activity Slows, Cap Rates Rise

Major hotel sales activity was robust during the first half of 2011. Transactions have resumed but will continue to face headwinds in 2012 due to continuing economic and political uncertainty.