The greater Tampa Bay lodging market is thriving, as evidenced by rising RevPAR levels, the entrance and subsequent absorption of significant new guestroom inventory, several high-profile transactions, and numerous exciting development projects in the market’s pipeline.
Philadelphia fans have an earned reputation for climbing light poles in celebration of major victories. Other fanbases throw octopi on the playing surface in celebration. Different fanbases behave differently. A statement that is acknowledged but rarely discussed in a quantitative way. Using data from Placer.ai, HVS gathered data on fan behavior before and after games for every NBA, NFL, MLB, and NHL team and aggregated them by location to enable comparison.
This article briefly recaps the 2018 and 2021 zoning changes in New York City as they relate to hotel development.
Stadium entertainment districts have been gaining in popularity since their inception in the early 2000’s. They can generate revenue for teams, enhance the event experience for the attendee, and generate increased tax revenue for cities. However, does the existence and creation of districts encourage the development of entertainment amenities around arenas and stadiums, and does it encourage the usage of these amenities before and after events?
Boston’s hotel market came up strong in 2022, exceeding expectations. Despite anticipated recessionary impacts in 2023, a full recovery is on the horizon for this market.
Strong Rate Growth and New Travelers Discovering New York State’s Resort Markets: The Impact of COVID-19 and the Recovery of the Finger Lakes, the Adirondacks, and the Catskills/Hudson Valley Markets
While New York City has been the focus of discussion around the state’s pandemic recovery, the Finger Lakes, the Adirondacks, and the Catskills/Hudson Valley markets have offered some of the biggest surprises. This article looks at how these three resort markets have fared throughout the pandemic, as well as the factors affecting their recent performance.
The Bronx’s distance from Manhattan and limited attractions have historically lacked appeal to people relocating to or within New York City. However, the availability of land, particularly along waterfront areas, and lower rent pricing have become catalysts for development over the last several years, bolstered by the popularity of the hybrid work model resulting from the COVID-19 pandemic. Continued gradual growth, coupled with increasing desirability, has created a resurgence for the Bronx.
Our Serviced Apartment Sentiment Survey invited 90 lenders, investors, and operators to share their views on the challenges and strategic focus points in 2022 and beyond.
Cincinnati experienced a banner year in 2019, with hotel performance reaching peak levels given the diverse base of lodging demand sources. However, since early March 2020, Cincinnati-area hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. Fortunately, lodging performance has improved in recent months, and significant investments throughout the region are forming a good foundation for market recovery.
The Hampton Roads area has historically benefited from strong leisure and tourism demand, government activity at the area’s military facilities, and corporate travel. Since early March 2020, however, the Hampton Roads lodging market has suffered a decline in demand, like most metropolitan areas in the United States, because of the COVID-19 pandemic. How much of an impact has the market experienced, and how quickly can this historically stable market recover?