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Do Sports Entertainment Districts Make A Difference?

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?

The Cleveland Market Is on Pace for Full Recovery

After bottoming out from the effects of the pandemic in April 2020 and facing consistent challenges throughout 2020, Cleveland’s hospitality industry has been steadily recovering throughout 2021 and 2022. A full recovery is expected by 2024, led by strong leisure demand and the return of meeting and group demand.

HVS Market Pulse - Cincinnati

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.

Discovering Possible Off-The-Radar Investment Markets

At the 2019 Phoenix Lodging Conference, the HVS Team heard muted optimism and a view that growth in the next 24 months may vary widely across markets. We would encourage owners to investigate the sometimes overlooked top 50 MSAs that still could experience value appreciation in those 24 months.

HVS Market Pulse: Toledo, Ohio

Toledo has long lived in the shadow of its neighbor to the north, Detroit, with an economy steeped in auto manufacturing and industry. The city is known for Jeep, Jamie Farr, and Tony Packo’s, but a thriving lodging market? HVS’s Stacey Nadolny investigates the changing dynamics in her hometown.

In Focus: Austin, TX

Job growth in the Austin-Round Rock MSA, especially with respect to highly skilled, highly educated positions, ranks among the best in the nation.

In Focus: Asheville, NC

Asheville’s hotel industry thrives on tourism, though other demand segments have been making headway. A rise in occupancy and average rate over the past several years is expected to continue, driving hotel development in the city’s downtown.

In Focus: St. Louis, MO

Hotel values in St. Louis are rising, and RevPAR reached a new high in 2015. A rise in convention bookings, along with expansion efforts aimed at drawing more leisure demand, provide for an optimistic outlook for the city’s hotel industry.

In Focus: Hampton Roads, VA

Though on the verge of an influx of new hotel supply, demand in Hampton Roads has risen in recent years, improving occupancy and allowing hoteliers to command better rates.

In Focus: Seattle, WA

Occupancy swung above 75% for Seattle’s hotel industry in 2014, a reflection of the city’s blossoming economy. High demand has also supported strong average rates and rising hotel values.
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