hvs
Hunter Conference 2024 Takeaways
Josh Williams | March 25, 2024
By Josh Williams, Courtney Vris, Eric Guerrero The Atlanta Marriott Marquis was bustling this week with another successful Hunter Hotel Investment Conference. Kudos to the Hunter and Marriott teams for executing an extraordinary event! Some key takeaways from the HVS brokerage and consulting staff members who attended the conference are summarized as follows: There is still a material gap on bid/ask in brokered deals, but buyers are nevertheless active and looking increasingly toward deals outside of the top 25 MSAs, which may produce better yields. Fewer listings in general were launched at Hunter than at ALIS. Several buyers men...
Savannah, Georgia: Linking the Past to the Future
Brett Testa | March 21, 2024
By Brett Testa Savannah, Georgia, is one of the oldest cities in the country and is the oldest city in the state of Georgia; it was also the state’s first capital. Given this rich history, the city boasts the country’s largest contiguous historic district, which has been integral to the success of Savannah’s hotels and restaurants since its inception in 1955. River Street, which winds along the Savannah River, has undergone explosive commercial and tourism development over the last decade; there are now 57 hotels and inns within the one-mile Savannah Historic Landmark District, and five more are in varying stages of completion. O...
Columbus, Ohio: A Bright Spot for Midwestern Hotels
Brandon Leversee | March 20, 2024
By Brandon Leversee The greater Columbus region is the top metro area in the Midwest in terms of GDP, population, and job growth. Contributing to this economic growth are legacy industries and sectors such as finance and insurance, along with education, retail, and health care. More recently, Columbus has emerged as the leading tech hub of the Midwest. In 2022, Intel Corporation, one of the world's largest semiconductor manufacturers, began construction on a $20-billion manufacturing facility in New Albany, just outside of Columbus. This development has attracted other related companies that are expected to support this operation, furt...
Outpacing and Evolving: Metro Atlanta Hotel Supply Growth
Courtney Vris | March 19, 2024
By Courtney Vris, Brett Testa According to Lodging Econometrics’ Q4 2023 US Construction Pipeline report, Atlanta ranked second nationally in the number of hotel openings in 2023, third in the number of hotels actively under construction, and second in the number of projects in the pipeline. Below, we provide an overview of the market’s hotel demand and its notable new supply, both recently opened and on the horizon. Metro Atlanta comprises the city of Atlanta and eleven surrounding counties, with a vast network of submarkets that include the following: The CBD, home to the Georgia World Congress Center, Mercedes-Benz Stadi...
Tulsa Tourism Is on the Rise
Kira Black | March 13, 2024
By Kira Black Tulsa’s tourism industry has experienced a strong recovery from the COVID-19 pandemic. Tourism is Oklahoma's third-largest industry and is second only to oil and gas in bringing out-of-state dollars into Oklahoma. In 2021, along with the recovery from the pandemic and rebound of the hospitality industry, tourist spending was slightly below the 2019 revenue level. Leisure and group demand recovery continued through 2022, resulting in record-breaking tourism revenue for Tulsa. Many of Tulsa's tourism and group demand generators are located downtown, such as the Tulsa Performing Arts Center, the Cox Business Convention Ce...
The Benefits of a Small Hotel Management Company
Kasia Russell | March 13, 2024
By Kasia M. Russell The last few years have been fraught with mergers and acquisitions in the hotel management space. Companies have grown larger and less personalized, more streamlined, increasingly technologically advanced, and geographically agnostic. The benefits of a large management company may seem obvious: efficiency and economies of scale, technology and innovation, specialized knowledge and resources, and distribution channel advantages, among others. However, when choosing a management company for your hotel, I encourage you to look beyond the seemingly obvious and evaluate whether a more personalized and strategic approach is a...
European Hotel Values See Modest Rise in 2023 but Fail to Reach Pre-Pandemic Levels, Reveals Latest HVS Valuation Index
HVS | March 11, 2024
11 March 2024, London: Hotel values across Europe remained steady in 2023 buoyed by the consolidation of the post-pandemic recovery and a steady desire to travel keeping average room rates strong, according to the annual European Hotel Valuation Index (HVI) published this week by global hotel consultancy HVS. These influences combined to offset the impact of a number of geopolitical challenges including the war in Ukraine, the war between Israel and Hamas and the shaky Chinese economy as well as increasing operating costs and high interest rates. The result was a modest uplift in hotel values of around 1% across Europe keeping them...
Resurgence and Strength: Demand and Supply Growth in Wichita
Benjamin Giebler | March 4, 2024
By Benjamin Giebler Given its location and position as the state’s largest city, Wichita serves as the primary economic hub for central Kansas. Wichita, known as the “Air Capital of the World,” is home to several major aircraft-manufacturing facilities and McConnell Air Force Base. The local economy is further supported by major employers in the manufacturing industry and healthcare and education sectors including Koch Industries, Ascension Via Christi St. Francis Hospital, and Wichita State University (WSU). This strong and diverse economy supported stability in the local hotel market’s occupancy and ADR through 2019. CO...
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