Publications & Events

AI adoption is on the rise globally, including in the F&B industry, where it's streamlining processes, reducing waste, and enhancing guest experiences. Read on to know more.

The Florida Panhandle remains popular among hotel developers and investors given the strength of the market in the post-pandemic period. An easy-to-reach destination for drive-to and out-of-state travelers alike, this Gulf Coast region has been a hotbed of activity for construction and transactions in the traditional-model hotel space since the summer of 2020.

Silicon Valley historically experienced strong lodging performance driven by high-rated corporate demand during the week. Thus, the rise of remote work policies has had an impact on recovery. However, the presence of Big Tech, surging interest in AI technology, and expansion of the life-sciences sector are anticipated to drive growth in this market over the long term.

The hotel market in Louisville, Kentucky, has experienced a slow recovery since the peak of the COVID-19 pandemic. While a copious amount of new supply over the past few years has slowed the recovery, ADR has grown steadily. The area will continue to be supported by bourbon tourism, the University of Louisville, and the Kentucky Derby.

The state of Arizona, including Tucson, recovered quickly from the COVID-19 pandemic. Hotel performance in Tucson has far exceeded pre-pandemic levels, primarily given ADR gains since 2020. In this article, we discuss the current state of Tucson’s hospitality industry, meeting and group demand factors, and investment interest in the market.

In recent years, hotel food and beverage (F&B) services have evolved from being an afterthought to a cornerstone of the guest experience and a significant revenue generator. These services now captivate travelers with innovative concepts, enticing menus, and immersive dining experiences. Breakfast, in particular, has emerged as the king of F&B offerings, capturing the hearts and palates of guests worldwide and becoming a deciding factor for travelers seeking hotels that go above and beyond.

Order the HVS CompStats Report to compare your hotel’s operating performance to that of five similar lodging facilities in your region.

The tailor-made HVS CompStats Report assists hotel owners, property managers, and asset managers in analyzing their hotel’s performance against that of five similar lodging facilities in the same region.

Data are provided by three points of comparison:

• Percent of Revenue
• Dollars per Available Room
• Dollars per Occupied Room

The file is provided in Excel format with an input area for your hotel’s operating statement. The model then allows for easy comparison and programmed highlights for opportunities to enhance profitability.

For more information on this report, or if you have questions, please contact Koby Kearney at [email protected].

We are also providing the HVS Hotel Operating Statement Insights Report (HVS-HOSI Report), which includes the 2022 operating data for the United States, as a whole, aggregated from our entire database of property data. For this report, visit our page here.

The HVS Hotel Operating Statement Insights Report (HVS-HOSI Report) includes the 2022 operating data for the United States, as a whole, aggregated from our entire database of property data.

On the first tab of the Excel workbook, data are provided by three points of comparison for limited-, select-, and full-service hotel categories:

• Percent of Revenue
• Dollars per Available Room
• Dollars per Occupied Room

On the second tab of the Excel workbook, data are provided by a hotel price category comparison for each of the three aforementioned points of data (%, PAR, POR) for the following classifications:

• Luxury
• Upper Upscale
• Upscale
• Upper Midscale
• Midscale
• Economy

As noted, the file is provided in Excel format.

For more information on this report, or if you have questions, please contact Koby Kearney at [email protected].

We are also providing the tailor-made HVS CompStats Report to assist hotel owners, property managers, and asset managers in analyzing their hotel’s performance against five similar lodging facilities in the same region. For this report, visit our page here.

This guide, to be published in 2023, will provide an extensive review of hotel management agreements across the United States, offering an in-depth understanding of the key terms and clauses of these agreements. In addition, the reviews are supported by expert insights to provide you with relevant and useful information.

Why is this guide more relevant than ever?

Among all the many peculiarities of the hotel industry, the hotel management contract is likely the most unique. It is a binding contract between owners and operators that has evolved over almost six decades; in fact, the first hotel management contract was signed for the Hong Kong Hilton, which opened in 1963.

The management contract structure allowed hotel companies to expand rapidly and become what is now known as “asset light.” Of course, hotel owners stand to benefit, in that they can bring in sound management expertise to their property and partake in the financial upside, unlike the traditional lease model that preceded it. Leveraging their management expertise, operators pushed for the hotel management contract to rapidly become the norm in the industry as a “take it or leave it” proposition to owners.

Over time, the hotel management contract has become an intricate web of terms and clauses that defines the relation between owner and operator. The balance of power in this relationship needs to be carefully established, which was, and unfortunately still is, not always a given. Owners need to be on their toes and bring in expert advice from consultants and lawyers to navigate the complexities of an agreement that can bind them for decades to come.

This year’s HVS Guide to Hotel Management Contracts by Robert Fitzpatrick and the HVS Hotel Asset Management & Advisory Team will give insights into prevalent terms and how contracts have evolved over the last five years. This guide provides a reference for owners to understand the language of hotel management contracts while demonstrating our extensive “hands-on” experience. The authors provide insight into the five principal sections of a management contract: term and renewals, operator management fees, performance test, budget and expenditures, and termination of the contract by owner. Key money and indemnification are also addressed.

We hope this guide can serve the industry as a reference to make better decisions, effecting better and more-balanced relations between owners and operators.

• The full guide and survey report, comprising approximately 30 pages, can be purchased for US$2,000.

All reports are available in PDF (soft copy) only. A personalized copy of the report will be sent.

For more information, please contact Robert Fitzpatrick at [email protected].

This article provides a summary of the current state of the timeshare industry, as well as the outlook in the current environment. We also highlight the benefits of timeshare resort ownership. Lastly, we describe the opportunities for entering this industry.