The coronavirus (COVID-19) pandemic is having a profound impact on the hospitality industry, as travel restrictions, limits on large gatherings, the closure of restaurants and bars and, perhaps most influential, fear of the virus, have brought travel—and most other aspects of hospitality—to a virtual halt.
Hotel development in Detroit continues full steam ahead, even as multiple large-scale residential developments are scaled back due to rising construction costs. Is Downtown Detroit prepared for the next round of hotel development within the Motor City?
Cape Cod has long been one of the most popular summer destinations in the Northeast, known for its quaint, aptly named, Cape Cod-style homes and world-class seafood, along with unique lodging options. Despite some short-term headwinds, the Cape Cod hotel market is poised for long-term success.
Albeit often not the winter weather, the lower cost of living, numerous leisure and recreational attractions, and the presence of Fortune 500 companies drives the appeal of the Twin Cities. While 2018 was a record year for the metro hospitality market, 2019 was less profitable for many of the roughly 370 hotels in the hub of the nation’s friendliest state.
In 2018, Amazon announced the locations for its coveted HQ2. Along with this announcement, the company also disclosed a new Center for Operational Excellence to be built in Downtown Nashville, bringing with it 5,000 new high-paying jobs. But how will this impact the local lodging industry, especially amid a massive number of new hotels flooding the market?
Orlando has long been distinguished as an iconic vacation destination by continuing its ranking as the No. 1 destination in the United States, according to Visit Florida. Since 2013, Orlando has reigned as the nation’s “Most Visited Tourist Destination.” With multiple factors driving Orlando’s appeal, hotel investors and developers are curious as to what is on the horizon for the hospitality market in Central Florida.
The state of Hotel Values in Canada…where are we headed nationally? If you are a Canadian hotel investor or Hotelier this is a must read…the recently released annual HVS Hotel Valuation Index forecast.
Kalispell and Whitefish act as gateways to Glacier National Park and have benefited from recent tourism growth and developments throughout the region. These two cities, as well as the national park, are the largest drivers of economic growth for Flathead County.