During the execution of numerous transactions during 2019, the HVS Brokerage & Advisory team has fielded a myriad of questions from buyer groups about the impact of needed PIPs on asset prices. We are seeing increased variability in PIPs. Thus, a buyer group’s estimate is of paramount importance.
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.
Vancouver is experiencing a development renaissance. Instilled with a new sense of confidence by The Waterfront’s ongoing success, Portland’s lesser known neighbor is buzzing with new construction projects, including office, multi-family, retail, and hotels along The Waterfront.
In the 8th annual Lodging Tax Report, HVS explores the current status and historical trends of lodging taxes in the USA. This updated version provides lodging tax rates/collections on all 50 US states and 150 US cities.
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.
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 Chicago investigates the changing dynamics.
The 41st NYU International Hospitality Industry Investment Conference wrapped up on June 4, 2019, and the overall sentiment of the event was one of caution, a shift from a sentiment of cautious optimism at conferences earlier in the year.
Spokane is becoming a national meeting-and-group destination following the convention center’s expansion and the opening of a new headquarters hotel in 2015. A greater variety of groups and events are attracted to Spokane, with 2019 tracking to be a record year for the city.