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.
This market snapshot provides an overview of the recent performance of the lodging industry in Chania City in Greece, in terms of demand and supply and analyzes past and future tourism trends.
Absorption of new inventory of rooms across the country is putting downward pressure on national occupancy; average rate continues to grow, albeit at a slower pace.
In Part 1 of this series, I discuss the importance of deriving a proper revenue estimate for valuations of independent, budget motels and testing its reasonableness against the norms for the neighborhood and market.
Spokane is becoming a national meeting-and-group destination following the convention center’s expansion and the opening of a new headquarters hotel in 2015. A greater variety of groups and events are attracted to Spokane, with 2019 tracking to be a record year for the city.
Celebrating its 30th anniversary, the Asian American Hotel Owners Association (AAHOA) convention welcomed nearly 9,000 attendees in its most widely attended event in history. Reportedly, one out of every two hotels in the United States is owned by members of this important association.
Hotels in the state of Hawaii reached record RevPAR levels in 2018, supported by continued growth in visitation.
The Houston lodging market has experienced significant fluctuations in recent years, driven by increases in supply, an energy recession, a Super Bowl, two MLB post-season runs, and one of the costliest natural disasters of all time. In this article, we look at where we go from here.
From Sacramento to Bakersfield, Central California is known as the “Food Basket of the World.” As the most populated city in the in the Central Valley, Fresno is the epicenter of California’s agriculture industry and the commercial, financial, and cultural hub of the region.
The landscape of Downtown Omaha continues to evolve as new construction projects within the commercial, hotel, residential, and public sectors move forward.