The recent recession cut into Wilmington’s hotel market as demand from financial institutions and other firms weakened; however, new projects, rising room rates, and a strengthening economy in the city and MSA are putting RevPAR on the mend.
New business partnerships, investments in high-tech companies and facilities, and rising hotel demand and average rates point toward a path of growth for Lansing’s economy and hotels.
Hotel loans, transactions, and performance were on every hotelier’s mind at this year’s conference in Atlanta. Hospitality experts from all walks of life were on hand with answers and advice on how to move ahead.
Bed-and-breakfasts and small inns dominate the lodging landscape at Port Townsend. Lodging demand has remained stable since 2004. Infrastructure improvements and marketing efforts will support growth, while additions to hotel supply will temper it.
HVS Hodges Ward Elliott has analyzed the major fundamentals of the hotel industry and current trends in other sectors of commercial real estate to determine how investors can capitalize on the current market.
The Emerald City, in recent years thought to be recession-proof, has lost a bit of luster in the national economic downturn.
Downsizing, travel freezes, and facility closings have made the climate bleak for hotels in northern Delaware, but a slowdown in the introduction of new supply should help shore up penetration levels when business activity and demand growth resume.
St. Louis’ job losses in manufacturing have been mitigated by stable financial, government, education, and healthcare sectors. How has the recession impacted area hotels, and what will it mean for the future of this market?
Research shows that the recession has disproportionately affected occupancy at the older hotels in the Hampton market. With several large-scale developments promising to change the makeup of demand, a need for newer hotels is evident.
A mix of cultural and commercial projects continues to steer businesspeople, tourists, and conventioneers toward Cincinnati, giving area hoteliers some hope in the tough economy.