HVS Design And JN+A Release 2019 Hotel Cost Estimating Guide 
By HVS Design

HVS Design and Jonathan Nehmer + Associates, Inc. (JN+A), leading Architecture, Interior Design, and Project Management firms specializing in the hospitality industry, are proud to announce the completion of the 2019 Hotel Cost Estimating Guide.  The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations.     

NYU Conference Takeaways: Cautious Optimism Turns to Caution 
By Rod Clough, MAI

The 41st NYU International Hospitality Industry Investment Conference wrapped up on June 4, 2019, and the overall sentiment of the event was one of caution, a shift from a sentiment of cautious optimism at conferences earlier in the year.

2019 Canadian Hotel Lending Survey 
By Shu Lin (Sharon) Liu and Carrie Russell

Supported by the persistence of generally favourable economic conditions, the Canadian lodging market sustained a marked improvement in 2018, as evidenced by a record-breaking RevPAR performance. HVS reviewed and analyzed the current lending environment for hotels following a comprehensive survey conducted among Canadian hotel lenders.

HVS Market Pulse: Perspectives on the New York City Lodging Market 2019 – a Review of the Supply Side 
By Anne Lloyd-Jones, MAI, CRE

Supply growth has been the dominant headline for the New York City lodging market over the past decade. The number of hotel rooms in the city increased from 66,000 in 2007 to 99,000 in 2018, a 50% increase in inventory. Another 15,000 rooms are under construction or proposed; if all of these rooms are built, the city’s inventory will have increased by 75% in a 16-year period. Increases in demand kept pace with supply growth through 2018.

Navigate the Pitfalls Motel Valuations – Part 2 
By Rod Clough, MAI

In Part II of this article, I discuss the importance of diving into local market comparable sales when facing an independent motel valuation. Equally important is knowing the market’s prevalent RRM and sales price per key; other factors, such as capital expenditures and FF&E value, require special consideration, and one should not over-complicate an analysis with new supply that may not ultimately affect a motel.

HVS Market Pulse: Toledo, Ohio 
By Stacey Nadolny

Toledo has long lived in the shadow of its neighbor to the north, Detroit, with an economy steeped in auto manufacturing and industry. The city is known for Jeep, Jamie Farr, and Tony Packo’s, but a thriving lodging market? HVS’s Stacey Nadolny investigates the changing dynamics in her hometown.

Coming Soon - Investment Opportunity Two-Hotel Portfolio, Katy, TX 

HVS, as the sole and exclusive advisory firm, is pleased to present the opportunity to acquire a two-hotel pack in Katy, Texas. This portfolio consists of a 69-key Hampton Inn and a 89-key Comfort Inn & Suites. The properties must be acquired together. This opportunity presents an investor the ability to acquire two properties at a price significantly below replacement cost. Contact Drew Noecker or Eric Guerrero for more information.

Investment Opportunity - Downtown Phoenix Hotel Development Site 
By Eric Guerrero and Drew Noecker

HVS, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the fee-simple interest in a 0.32-acre site within the booming Downtown Phoenix submarket. This opportunity presents the possibility to build a vertically structured, 30-story, 375-key, upscale, select-service, dual-brand hotel. Downtown Phoenix continues to undergo economic expansion after an extended post-recession recovery. More than nine million square feet of private office space exists in the Downtown core, with another 1.3 million square feet under construction; demand for office space continues to grow with the recent expansion of the light-rail system. The subject site proximate to a diverse mix of corporate and leisure demand generators including: ASU Downtown, Phoenix Convention Center, Chase Tower, CityScape, Talking Stick Resort Arena, Chase Field, and Banner University Medical Center.

Learn to Use Hotel Valuation Software from Steve Rushmore and the Glion Hotel School 
By Steve Rushmore

HVS is Speaking Near You 

• July 11, 2019: Katheleen Donahue at The Hotel Association of Tarrant County in Fort Worth, TX
• July 18, 2019: Luigi Major at The Northwestern Branch in Santa Monica, CA
• July 23, 2019: John Lancet at the Latino Hotel Association Conference in Miami, FL
• July 25, 2019: John Lancet at NABHOOD in Seattle, WA
• August 13, 2019: Kathleen Donahue at The Hotel Association in Dallas, TX

HVS is Hiring in Austin, Texas! 

We are looking for Analysts to join our Consulting & Valuation division in Austin. We prefer to hire individuals with at least two years of full-time work history and who can demonstrate flexibility, focus, and self-motivation. Our culture puts our personal health and rest before work in the priority scale, encouraging team members to take care of themselves, while succeeding within our team (we prefer “family”).

HVS in the News 

• Is the hotel market under siege? Execs point to political climate as “a big concern”
• Convention Place property poised for redevelopment
• Trump Organization blames gun violence for revenue decline at Chicago hotel. So, have other Chicago hotels experienced the same phenomenon?
• Construction Boom Doesn't Hurt Downtown Chicago's Hotel Market