The HVI is the authoritative guide to U.S. hotel values, giving hotel stakeholders an educated edge in buying, selling, and holding opportunities. This online tool provides historical and projected values and RevPAR for the Philadelphia market.
The Philadelphia market has been severely affected by the COVID-19 pandemic and the related decline in travel. The magnitude of the decline has been somewhat greater than that experienced by the top 25 markets in the U.S., which is due to the impact of the pandemic on the leisure segment, particularly international tourism, as well as across the meeting and group segment. Looking ahead, Philadelphia as a city works to heal and rebuild.
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.
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.
HVS Americas publishes several research reports annually that can help you succeed in navigating the tricky waters of today’s hotel investment environment. This article summarizes our key publications.
Chicago continues to attract hotel development to the downtown market, thanks to its proximity to global transportation and well-educated workforce. The installation of Chicago’s 60th crane in 2017 suggests that development is still robust.