The challenges faced by the City of Roses in 2020 were nothing short of devastating. Not only did the COVID-19 pandemic wreak havoc on the local economy, but social injustice and political demonstrations, as well as devastating fires that displaced thousands and resulted in hazardous air quality, continued to impede recovery efforts throughout the year. Moreover, the exaggerated national media attention further exacerbated conditions. Looking ahead, Portland as a city works to heal and rebuild.
While Panama City Beach’s 27 miles of white sand beaches and emerald blue waters have remained unchanged since the 1950s, this market’s identity and economic landscape have undergone many transformations over the last two decades. This destination’s willingness to transform, its flexibility in the face of hardship, and the natural beauty of its beaches and beyond are what make Panama City Beach a truly resilient market with virtually unlimited development potential.
The COVID-19 pandemic and resulting restrictions on domestic and international travel, economic activity, and individual movement are having an unprecedented impact on the lodging and tourism industry in Latin America. While government authorities across the region work to manage restrictions and phased reopening plans, uncertainty prevails over the duration of the global pandemic.
Each year, HVS reviews and analyzes the Canadian hotel lending environment following a comprehensive survey. With the unprecedented change that 2020 has brought, this year’s survey looks to gain clarity on the current lending environment and the overall health of the hotel finance sector across the nation.
HVS compiled the Q3 2020 performance statistics of brands reported by public companies. The data reflect the gains made during the post-lockdown summer months versus a very low Q2; however, with leisure travel slowing in the current and coming quarter, coupled with the increasing COVID-related restrictions, this trend may be short lived.
Since early March, greater San Diego-area hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. How far has the San Diego hotel market fallen? How does this compare to the last recession? What will the recovery look like?
Following waves of asset of appreciation, the pendulum has swung, and many hotels will be facing significant value declines in the current economic climate. As owners look for every way to reduce operating expenses, they should remain vigilant to pending fluctuations in real property assessment levels and proactive on appealing their assessments, if warranted.
While numerous lodging brands are available to hotel owners through franchises, new brands continue to emerge. In 2020, several new brands have been introduced, providing unique niches in the marketplace to meet the demands of both hotel owners and guests. This article reviews the brands announced in 2020 and considers how they are poised to operate during the current economic climate.
A record-breaking decade of growth in the hospitality space in Southern California has now been brought to a halt by COVID-19. This article explores the impact of the pandemic on Los Angeles and other major Southern California hotel markets.
Asheville is recognized as a premier tourist destination in the Southeast U.S., and its growing and changing lodging landscape continues to reflect this Blue Ridge city’s popularity.