Hotel Values Moderate, Cap Rates Stable 
By Suzanne Mellen, MAI, CRE, FRICS, ISHC

Supported by lower interest rates, transaction activity held up during a year of uncertainty. Hotel capitalization rates remained stable, while NOI and values were affected by slowing RevPAR growth and increasing operating expenses. This article addresses recent trends in hotel sales and capitalization rates, the course of hotel values since the last downturn, and the outlook for 2020. 

HVS 2020 Hotel Transaction Outlook 
By Benjamin Levin

With the strength of the U.S. economy, hotel transaction activity should remain strong in the near term; however, as we look further out, things become a little less optimistic. Before we discuss the future, let’s take a quick dive into what happened in the past.

HVS Market Pulse: Kalispell and Whitefish, Montana 
By Desiree Flanary and Lauren Reynolds

Kalispell and Whitefish act as gateways to Glacier National Park and have benefited from recent tourism growth and developments throughout the region. These two cities, as well as the national park, are the largest drivers of economic growth for Flathead County.

Register for HVS MexHIC 2020 - February 20, 2020 in Mexico City 

HVS MexHIC 2020 gives stakeholders a chance to hear from industry leaders and representatives of major hotel brands; network with developers, investors, lenders, and government officials; and engage the many challenges and opportunities of the Mexican and Central American lodging landscape. Join us February 20, 2020 in Mexico City to cultivate strategies for your hotel and resort program.

Registration is Now Open for CHICOS 2020 Nassau, Bahamas | November 12-13, 2020 

The Caribbean Hotel Investment Conference and Operations Summit (CHICOS), the only forum in the region for discussion of relevant and timely hospitality development issues, has partnered with The Bahamas Ministry of Tourism & Aviation for the 10th anniversary edition of CHICOS, which will take place at the Grand Hyatt Baha Mar Resort in Nassau, Bahamas, on November 12-13, 2020. Be sure to reserve your spot early and book your accommodations at the host resort. Further details, including early registration rates and group codes, can be found on the newly revamped conference website.

HVS Brokerage & Advisory Closes Sale of Two-Property Portfolio in Lubbock, Texas, to Private REIT 

HVS Brokerage & Advisory announces the sale of the 100-key Home2 Suites by Hilton Lubbock, located at 6004 Marsha Sharp Freeway, Lubbock, Texas 79407; and the 101-key Fairfield Inn & Suites by Marriott Lubbock Southwest, located at 6435 50th Street, Lubbock, Texas 79407.

Investment Opportunity - Best Western Oakdale Inn, Louisiana 

HVS, as the sole advisory firm to Ownership, is pleased to present the opportunity to acquire the 56-key Best Western Oakdale Inn, a recently renovated, limited-service asset. Given the excellent physical condition of the Property, a minimal change-of-ownership PIP is expected at $112,000 ($2,000 per key). Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

HVS in the News 

• ARA H-Trust completes acquisition of three US hotels for US$84m
• Transactions Heat Up Hospitality
• Report: Spas Contribute Substantially to U.S. Hotel Revenues
• Raise a Toast to These Hotel Stocks in 2020
• HVS: Hospitality Growth in 2020 Stable, but Caution is Urged

HVS is Speaking Near You 

• January 27-29, 2020: Suzanne Mellen at ALIS in Lons Angeles, CA.
• January 27-29, 2020: Drew Noecker at ALIS in Lons Angeles, CA.