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Message from Rod Clough, President - HVS Americas
The NYU Investment Conference was a success, and participants were eager to meet once again. We were treated to a fantastic program arranged by Dorothy Jennings and her planning committee. You can download Stephen Rushmore Jr.'s presentation here.
It is undebatable that despite some challenges, our industry is resilient. The expectation of a looming recession was mixed, with some forecasting a shallow, short-lived recession, and others expecting a more significant impact. The overall sentiment remains positive, and cash flow growth is anticipated to continue. Please read our NYU Investment Conference Takeaways.
We’ve also updated our latest forecast of occupancy and ADR. I’ve shared this on my LinkedIn feed; follow me here to see the latest update.
Thank you again for your ongoing confidence in us.
In Partnership,
Rod Clough
President, HVS Americas
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Convention, Sports & Entertainment Facilities Announcement | |
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Cincinnati, OH Headquarters Hotel RFI Opportunity
The Cincinnati Center City Development Corporation (3CDC), operating in its role of Development Manager on behalf of the City of Cincinnati and Hamilton County, invites developers to submit their qualifications and a statement of interest in the ownership, development, financing, design, construction, equipping, and operation of a Convention Center Headquarters Hotel in Cincinnati, Ohio. Interested developers can find additional information and background, including the official Request for Qualifications and Interest document below.
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NYU Conference Takeaways: Despite Some Challenges,
The Hospitality Sector Is Still Looking Good
The tale of the looming recession was mixed, with some forecasting a shallow, short-lived recession, and others expecting a more significant impact. The overall sentiment remains a positive one, and that cash flow growth should continue. Despite high inflation, other economic markers, such as consumer goods, mortgage default rates, and low unemployment rates, look positive.
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In-Depth Hospitality Research | |
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HVS Hotel Broker Survey - Spring 2022 Edition
The HVS Hotel Broker Survey is published twice annually and provides an important look at cap rate trends, multipliers, market sentiment, and other key investment metrics by hotel product type for the US hotel industry. HVS reaches out to active hotel brokers in the US to participate in the survey, and their insights provide you with the pulse of the investment market.
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Current Market Outlook Reviews | |
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Canadian Lodging Outlook Quarterly 2022-Q1
First quarter of 2022 RevPAR more than doubled first quarter of 2021 RevPAR in spite of Omicron. Airport markets had highest occupancy at 48.6% with Resorts trailing on their heels, at 47.2%. Highest ADR was at resorts at $241 up $13 over Q1 2019. Occupancy is still 13 points below 2019 but ADR only has a $5 gap to catch up to 2019 level which is projected to surpass over the summer months.
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Nashville Hotel Market Continues Its Path to Recovery
With the height of the pandemic behind us, we are shifting to a world where COVID-19 is ubiquitous and will be part of everyday life for the foreseeable future. How is this realization affecting the Nashville lodging industry? What segments are experiencing the strongest improvements, what areas are lagging, and are any lodging factors changed permanently? Here, we take a look at Nashville’s lodging recovery as of mid-year 2022.
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Tucson Emerges Strongly from Pandemic, Outlook is Optimistic
In recent years, Tucson has begun to emerge from the shadow of Phoenix. Tucson's temperate winter and spring and its five-star resorts contribute to making tourism the third-largest industry of the local economy. In this article, we provide an overview of Tucson and the recovery over the past two years during the pandemic, provide a snapshot of overall existing supply in both Tucson and Phoenix, and analyze transaction trends in both cities.
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HVS Brokerage & Advisory Closes Sale of La Quinta Inn & Suites by Wyndham Houston Cypress
Neal Patel, Principal of Katy Lodging Group LLC, commented, “I am very excited to say that working with the HVS team was amazing. The team is very experienced in marketing hotel transactions. When they found me a buyer for my hotel as quickly as they did, I was in shock. They got me my asking price without any price negotiations. When the HVS team finds you a buyer, it’s 99.9% guaranteed the transaction will go through. I am very pleased to have worked with them in my hotel sale and look forward to working with them in the near future.”
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HVS is the only global consulting firm focused exclusively on the hospitality industry. We provide comprehensive expertise through every phase of ownership across a wide range of hospitality assets. | |
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