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With the advent of technology, many activities previously performed by live humans have been replaced by automated methods. Is it really an improvement, or has the industry gone too far?
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The Canadian hotel industry blew it out of the park once again in 2018! Growth in demand outpaced growth in new supply 2:1, leading to never before seen levels of national occupancy and average rate.
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Bolstered by dozens of companies relocating to the urban core and the country’s largest convention center, Chicago has solidified itself as one of the most vibrant and active lodging markets in the United States. Gain more insight ino the Chicago market by joining Stacey and her team as they share their ample market intelligence and facilitate conversations with local experts to share market perspectives and expectations at our HVS Chicago Hotel Investment Summit on April 5, 2019.
STAY IN THE KNOW.
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Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.
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In 2018, LA welcomed a record 50 million visitors. With hotel occupancies now at peak levels, hotels are poised to benefit from rising average daily rates. This article discusses primary drivers of demand and provides an outlook for the year ahead.
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The second-largest city in California is benefiting from record occupancy levels and new ADR peaks, despite the entrance of new supply.
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Boulder is a target market for hotel companies and brands. The city’s strong corporate and leisure demand, combined with a major university, makes it a perfect hotel market. Despite the ideal hotel environment with strong market performance, new hotel development has been limited.
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Downtown has historically lacked the inertia to overcome economic conditions to transition to a new identity worthy of this city’s rich history. The City for Champions and urban renewal initiatives could be the impetus needed for revitalization.
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Pittsburgh has long been known as the hub for coal mining and steel production. Over the last 30 years, it has experienced quite the transformation, no longer just the eighth-largest city in the nation boasting its impressive steel output.
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The city’s hotel market has been bolstered since the recession with record growth in supply and demand, with a diverse demand base that is strong in leisure, corporate, and convention business. Stay ahead of the game and join Stacey Nadolny, MAI, and her team as they share Chicago's hot topics and latest trends at our breakfast event.
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HVS, as sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the recently renovated 80-key Candlewood Suites Texas Medical Center, an extended-stay asset located in one of the highest barrier-to-entry submarkets in Houston, TX. Based on the 2018 P&L, the Hotel achieved a house profit of 47.1%, with a NOI flow-through of 29.9%, including 3% management fees and 4% FF&E reserves. There is great upside for a more “hands-on” experienced operator to restructure the Hotel’s operations, establish yield-management strategies, and initiate cost-containment initiatives to maximize RevPAR penetration and NOI flow-through.
VIEW OUR LISTINGS.
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Steve Rushmore- Founder of HVS, has launched an on-line training course: Hotel Market Analysis and Valuation Using Hotel Valuation Software. This software developed by Steve and HVS is designed to perform hotel market studies, forecasts of income and expense, and hotel valuations. Steve has partnered with the famous Glion Hotel School in Switzerland to produce the course which will quickly bring you up the learning curve to fully understand how the three software models work. Using a combination of videos, readings and interactive exercises with the actual software, you will be able to complete the course in your free time. The professors at Glion, along with the other students taking this course, will be available to answer your questions and help you finish the program. Upon completion, you can keep the software and you will receive a certificate from the Glion Hotel School which can be an important enhancement to your resume. If you enroll now, as a special gift from Steve - you will receive a 10% discount on this course by entering the Discount Code: HVSTEV10 during the enrollment process.
Click Here to watch a video describing the course.
If you have any questions about my course- contact me- Steve Rushmore- [email protected] |
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