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In this seventh annual Lodging Tax Study, HVS Convention, Sports, and Entertainment Consulting surveys lodging tax rates and revenues across the United States. Our study includes a broad range of cities and tracks policy trends in lodging tax impositions. This research identifies the lodging tax rates levied at the state, county, city, and special district levels. We provide data on the collection and distribution of revenue from lodging taxes levied in all 50 States and the 150 largest cities in the United States.
BE IN THE KNOW.
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Attendees: Adam Lair, Kirby Payne, Eric Guerrero, Drew Noecker, Kasia Russell, Li Chen, Brett Russell and Luigi Major
We are happy to be represented by a contingent of experts. Adam Lair, MAI, will speak at the Industry Overview and 2019 By the Numbers: Market Analytics sessions, while Kirby Payne will speak at the 3rd Party Management: The Owner-Operator Relationship session. Meet our new Brokerage team directed by Eric Guerrero and Drew Noecker at Suite 2420 in the Paradise Wing. We look forward to connecting with you. Please contact us to set up a meeting and make sure to attend the above-captioned sessions to hear from HVS experts.
SET UP A MEETING.
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The lodging industry is facing issues across a wide scale; however, the LAS event strategically focused on a few “call to action” pieces. Issues that are important for industry professionals to be aware of and well versed in include immigration, illegal hotels, human trafficking, wages and benefits, per-diem rates, resort fees, OTAs, tax reform, Americans with disabilities, and joint employer models.
STAY INFORMED.
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The Culinary Institute of America has initiated a request for proposals (RFP) for an experienced developer to design, finance, build, and operate a new hotel on the Hyde Park, New York, and Napa, California, campuses. The CIA will lease the respective parcels to the developer and will provide a wide range of economic benefits, as well as the use of the students in the operation of the hotel and its food and beverage operations.
REQUEST RFP.
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In this new day in age, the meaning of travel has taken an interesting turn in terms of what is driving consumers away from home. The generation of material pleasantries has come and gone, and what people are really looking for these days are new and engaging experiences. Consumers today continue to seek exciting and unique experiences when they travel, and the lines between hotels and alternative lodging options, such as Airbnb, continues to be blurred.
LEARN MORE.
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HVS, as sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 125-room Holiday Inn Express & Suites Houston Northwest Highway 290 Cypress, a limited-service hotel located in the rebounding Houston Northwest submarket. The current ownership group is encouraging preemptive offers. Capable buyers who present offers with short due diligence and closing periods are preferred. Built and opened in 2016, the Property is in excellent physical condition. An insignificant change-of-ownership PIP is expected based on recent discussions with IHG brand representatives. Using current pricing guidance, the Property can be purchased below replacement cost.
FIND OUT MORE ABOUT THIS AND OTHER OPPORTUNITIES.
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HVS, as sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 88-key TownePlace Suites by Marriott Dallas-McKinney, an extended-stay hotel located in the booming North Dallas submarket of McKinney, Texas. The hotel is currently under-performing versus its competitive set because the ownership group has been focused on other development projects. This opportunity would present a more “hands-on” operator the ability to strategically penetrate the competitive set aggressively and operate above current EBITDA margins. Property tour dates have been released for 10/8 and 10/9, please reach out to us to schedule a visit.
FIND OUT MORE ABOUT THIS AND OTHER OPPORTUNITIES.
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Staged by HVS, the Caribbean Hotel Investment Conference & Operations Summit (CHICOS) is the premier industry conference for the region. Based on the current market situation, this year’s conference, to be held November 8–9, 2018, in Bermuda, will feature discussion panels and workshops that focus on key subjects influencing the investment climate in the Caribbean, including available capital, financing of new projects, and new market opportunities for both first-time and seasoned developers that are interested in pursuing deals in the region. In addition to the Leaders and Lenders panels. CHICOS will raise topics concerning preparation for seasonal impacts, capex, equity, debt, and overall financing of projects, as well as trends in where and how new projects are moving ahead. Additionally, there will be presentations and panels specific to insurance, as well as planning and building for the future.
LEARN MORE ABOUT CHICOS’ AGENDA.
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By Marcus R. Lee, Steven Kim, Eric Yiankes
Whether it’s manicured beach towns or celebrated theme parks, Orange County stands out as one of California’s most iconic destinations. Recent hotel transactions show investor confidence in this high-barriers-to-entry Southern California market. This article illustrates the current conditions and lodging metrics of the Huntington Beach, Newport Beach, and Costa Mesa submarkets.
GET THE INSIGHT.
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