Phoenix’s growth in 2015 reflects the hopes of hotel developers and owners in the market, as performance closes in on pre-recession levels.
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.
Thanks to energy-driven demand, Houston achieved record occupancy levels in 2014. The recent fall of oil and gas prices and more than 5,000 new rooms on the horizon poses a challenge to market-wide occupancy, though average rates continue to climb.
Though on the verge of an influx of new hotel supply, demand in Hampton Roads has risen in recent years, improving occupancy and allowing hoteliers to command better rates.
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.
Denver’s growth this year reflects what many hotel developers and owners have been witnessing—as a market for jobs, business, and development, Denver continues to outperform.
Today's rising popularity of all-inclusive resorts is directly correlated to the value proposition for the guest. The resorts that offer customized products and services with personalized experiences are beneficial to both the owner and the customer.
The profiles of Kazakhstan's two main hotel markets are evolving. Astana thrives on strong government support and the planned Expo 2017. Almaty lost part of government and oil & gas segments, however is set to develop as a leisure destination.
Institutions ranging from Olympic centers to major military bases underpin the economy of Colorado Springs. Tourism brings additional demand to area hotels, which have noted improvements in transactions and performance over the past year.
Tourism remains a cornerstone for Charleston, with Condé Nast readers ranking the city the top destination in the U.S. and the world. Other developments across the range of Charleston’s economy are also driving hotel demand and average rates.