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Message from Rod Clough, President – HVS Americas
After a busy October attending many industry conferences and events, we at HVS Americas are gathering in early November for our bi-annual summit in Palm Springs, California. Sister properties the Avalon and Ingleside Estate will host our big event, and as our events always are, it will be a fantastic time to plan for 2027, connect with one another, and party too! I’ll be sure to post some pictures to my Instagram feed soon.
Kudos to Ariela Kiradjian and her team for pulling off another extraordinary BLLA Boutique Hotel Owners Conference and Harry Javer and his team for their stellar Lodging Conference. We are proud to support these two events. Thank you all for your efforts to bring the industry together for important conversations and bonding.
I recently published the fall edition of my HVS Brokers Survey, with the latest sentiments on hotel cap rates, discount rates, RRMs, and industry trends from the nation’s brokerage community. Make sure to pick up your copy here.
Wishing you a successful November ahead!
Rod Clough, MAI, CRE, MRICS
President, HVS Americas
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HVS U.S. Hotel Broker Survey
Fall 2026 Edition
The latest HVS Broker Survey offers exclusive insights from top hotel brokers across the United States. This twice-yearly report delivers real-world data on cap rates, revenue multipliers, exposure times, and market sentiment—broken down by hotel type. Whether you're buying, selling, or advising, this survey gives you the data-driven edge to make smarter, faster investment decisions.
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The 16th annual Lodging Tax Report presents data on city, state, and special-district lodging and sales taxes imposed on lodging sales. We provide historical data on tax rates and the collection and distribution of revenue from lodging taxes levied in all 50 states and the 150 largest U.S. cities. Our analysis of 25 major U.S. hotel markets shows more markets declining than growing in 2025. Through August 2026, RevPAR rose in all but one market, signaling broad-based improvement in hotel performance.
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The HVS Hotel Operating Statement Insights Report provides benchmark hotel operating data from across the U.S., helping owners, investors, and operators compare their property's performance against industry standards and identify opportunities to improve profitability. It offers detailed financial metrics by hotel type and price segment, making it a valuable tool for budgeting, forecasting, and decision-making.
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CHICOS 2026 is heading to The Bahamas! Join hospitality leaders from across the Caribbean and around the world at the 2026 Caribbean Hotel Investment Conference & Operations Summit (CHICOS), taking place November 10–12, 2026, at Atlantis Paradise Island.
As the Caribbean’s premier hospitality investment conference, CHICOS brings together more than 300 investors, owners, operators, developers, lenders, tourism officials, and industry leaders to discuss the trends and opportunities shaping hospitality across the region. Don’t miss this opportunity to network with key decision-makers, gain valuable market insights, and explore new investment and development opportunities.
| | The Mexico Hotel and Tourism Investment Conference (MexHIC) is one of the leading hospitality investment events in Mexico, bringing together hotel and resort investors, developers, hotel brand executives, lenders, tourism officials, and other key industry stakeholders to discuss opportunities, trends, and emerging projects across the region. For anyone involved in the region's hotel, resort, tourism, or real estate development, MexHIC offers a unique opportunity to identify new business opportunities, build strategic partnerships, and stay ahead of market trends. | | |
BLLA 2026 Boutique Hotel Owners Conference Takeaways:
Lessons for Luxury Hospitality
The tone of this year’s Lodging Conference was measured optimism, as strong 2026 RevPAR growth and limited new supply support the industry outlook. However, rising operating costs, expensive debt, loan maturities, and geopolitical risks continue to pressure profitability. Owners are increasingly focused on AI adoption, active asset management, brand economics, and converting revenue increases into asset value.
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HVS U.S. Market Pulse: October 2026
Our forecast is anticipating a strong fall meeting and convention season, following very solid summer performance. ADR is the star of the show this year, with a robust stock market and a propensity for booking more luxury and upper-upscale stays lifting the overall average well beyond initial expectations. Other factors currently impacting our industry include inflation and staffing challenges.
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Beyond Revenue Growth: HVS Takeaways from The Lodging Conference
The tone of this year’s Lodging Conference was measured optimism, as strong 2026 RevPAR growth and limited new supply support the industry outlook. However, rising operating costs, expensive debt, loan maturities, and geopolitical risks continue to pressure profitability. Owners are increasingly focused on AI adoption, active asset management, brand economics, and converting revenue increases into asset value.
| | Inside the Market: Expert Briefing | | |
The Caribbean’s Lodging Boom: A Summary of the Development Pipeline
The Caribbean hospitality market is undergoing a transformative period of growth, characterized by substantial new hotel development, expanding branded residential offerings, and continued investor interest. This article highlights the projects, trends, and opportunities shaping the future of Caribbean tourism and hospitality and previews the development pipeline to be presented at the upcoming CHICOS conference in November.
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A Market in Transition: The Future of Downtown Dallas Hotels
Downtown Dallas hotels are navigating convention-center disruption, corporate relocations, and sports venue shifts, with FIFA boosting 2026 rates. While occupancy may remain soft until the convention center reopens in 2030, factors such as Uptown development, hotel conversions, airport investments, and major projects support a strong longer-term outlook.
| | People Series: Meet the People Who Make HVS Americas Exceptional | | |
Kirsten Smiley, MAI, Managing Director and Leader – Southwest Region
HVS Consulting & Valuation
Kirsten Smiley, MAI, Managing Director of HVS’s Southwest Region, brings extensive hospitality expertise from underwriting more than 1,000 hotels. Known for her candid, thoughtful approach, she looks beyond the numbers by listening to clients, understanding each property’s unique story, and asking difficult questions. Her current work focuses on repositioning, redevelopment, and new development strategies grounded in strong fundamentals and adaptable market insights.
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Brokerage & Advisory Hotel Listings
Are you looking to acquire or sell hotels? We offer a wide range of asset opportunities and customized financial solutions to meet your specific needs. Notably, we have many price reductions on exclusive hotel investment opportunities and have introduced deals in Panama. Despite a slower national transaction market, our team continues to generate strong buyer interest through a competitive, nationwide network. Now is a great time to explore the market and take advantage of these timely offerings. Contact us today to schedule a consultation with our team.
| | HVS Spotlight: Client Testimonials | | |
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We provide comprehensive expertise through every phase of ownership
across a wide range of hospitality assets.
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