Portland, Oregon.: HVS announced the official opening of its hotel consulting and valuation branch in Portland, Oregon, serving hotel owners, investors, developers, and other stakeholders throughout the Pacific Northwest. Led by Seattle native Kasia Russell, MAI, the HVS Portland consulting and valuation team provides single-asset and portfolio hotel appraisals, market and project-feasibility studies, franchise evaluations, and advisory expertise on large-scale, mixed-use and public-private developments.
While Russell and other HVS experts, such as Desiree Flanary, MAI, have been based in Portland for several years, the growth of the hotel industry in the region prompted the need for a permanent office.
“HVS has conducted more than 450 assignments in Oregon, Washington, and Idaho since 2011,” said HVS President and CEO Stephen Rushmore, Jr. “The transition of our Portland satellite branch into a full-fledged appraisal headquarters office for the region is in response to growing demand from hoteliers for local expertise.”
Seattle has realized high levels of corporate expansions, convention demand, and leisure visitation in recent years. These trends, along with the area’s high barriers to entry, have triggered high-profile hotel transaction activity and new construction. The latest HVS Hotel Valuation Index forecasts continued strong growth for hotel values in both Portland and Seattle in the near term.
Over the past three years, HVS has recorded 164 hotel transactions and the opening of 32 new hotels across Washington, Oregon, and Idaho. Hotels under construction include more than 2,500 rooms in Oregon and more than 1,500 rooms in Washington; Seattle is slated to receive close to 5,000 additional rooms, including the 1,264-room convention center hotel, in the next several years. The slew of new hospitality projects (spanning both branded and independent properties) illustrates investor confidence in the region and the expanding need for hotel-specific appraisals and feasibility studies.
"HVS is honored to establish the HVS Portland branch as part of our growing network of offices across the U.S.,” said Rod Clough, MAI, a Senior Managing Director and Managing Partner at HVS. “Kasia Russell, who has long called this part of the country home, has proven her expertise over the course of hundreds of hotel projects in the Northwest and is a trusted advisor for many of the region's top industry stakeholders."
Kasia Russell, MAI
Managing Director, HVS Portland
4950 NE Belknap Court, Suite 201
Hillsboro, OR 97124
Phone: (970) 227-7799