For 2017, the highest RevPAR growth is anticipated for markets such as Sacramento, Washington D.C., Tucson, Chicago, Salt Lake City, Albuquerque, Houston, and Nashville, per the ALIS presentations.
The Niagara Falls, ON, region is seeing another record-breaking year in RevPAR growth. The rise in occupancy and average daily rate is expected to continue with the persistence of the weak Canadian dollar and the rise in US/international travellers.
Phoenix’s growth in 2015 reflects the hopes of hotel developers and owners in the market, as performance closes in on pre-recession levels.
Occupancy swung above 75% for Seattle’s hotel industry in 2014, a reflection of the city’s blossoming economy. High demand has also supported strong average rates and rising hotel values.
Denver’s growth this year reflects what many hotel developers and owners have been witnessing—as a market for jobs, business, and development, Denver continues to outperform.
As economic recovery resumes and tourism strengthens, Washington, D.C. remains a top draw for leisure, convention, and government demand, with area hotels achieving some of the highest RevPAR levels in the nation.
Is it a buyer’s market, a seller’s market, or simply time to develop?
HVS Hodges Ward Elliott has analyzed the major fundamentals of the hotel industry and current trends in other sectors of commercial real estate to determine how investors can capitalize on the current market.
St. Louis’ job losses in manufacturing have been mitigated by stable financial, government, education, and healthcare sectors. How has the recession impacted area hotels, and what will it mean for the future of this market?
Unemployment rates are surging, global stock markets are crashing, commodities are collapsing, and the real estate bubble has finally burst. What moves can hotel developers make during the downturn?