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.
Minneapolis is home to many Fortune 500 companies and more than 11,000 hotel rooms. High quality of life, diversity of employers, and leisure attractions continue to entice demand and an ensuing level of hotel development to the area.
Anchored by the Mayo Clinic, Downtown Rochester has experienced a plethora of development attributed to the $5.6-billion Destination Medical Center (DMC) initiative, which is the largest economic development initiative in Minnesota’s history.
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.
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.
In this article, Luigi shares what he believes to be some of the most important factors that must be considered in the acquisition or development of a hotel, which ultimately lead to a property’s financeability, profitability, and long-term success.
As tourist and investor interest grows in the game-lodge industry and wildlife destinations around the world, the article brings to light some peculiarities and challenges of the lodging industry and lists some lessons/best practices for developers.
The global spa movement, which includes wellness tourism, amounts to upwards of $3 trillion dollars per year. What physical and strategic elements are key to driving bottom-line performance at traditional and wellness-focused spas?
Key takeaways from the South East Asia Hotel Investors’ Summit include recurring themes throughout the region such as the rise of the millennial generation, the experience economy and the effects of political instability on regional outlook.
This article reviews the main terms of hotel management contracts in Europe. The terms provided are broad indications only, and can vary significantly depending on element such as asset class, location, brand, operator and type of investor.