In response to rising demand for unique designs, developers are turning to adaptive reuse as a means of creating one-of-a-kind hotels. Historic building conversions come with their own sets of challenges, balanced by potential rewards.
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 conference keyed in on ways for independent hotels to gain ground in today’s market, from financing avenues to booking channels. Changes in consumer behavior, with tastes favoring the hotel “experience” more than price or brand, were a highlight.
Hyatt Hotels Corporation, one of the world’s premier hotel companies, has expanded in scope and performance across its stable of brands over the past year. Which fared the best in terms of occupancy, average rate, and overall growth?
As economic recovery resumes and tourism strengthens, Washington, D.C. remains a top draw for leisure, convention, and government demand, with area hotels achieving some of the highest RevPAR levels in the nation.