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Fuel to Release Exclusive Early Edition of Leisure Travel Study Results at HITEC 2019

Fuel | June 13, 2019

Leading provider of hotel software and digital marketing solutions to provide sneak peek at critical industry data to attendees of world’s largest hotel technology show Myrtle Beach, SC and Minneapolis - HITEC Booth #2920 - June 13, 2019 – Fuel, a leading provider of hotel software and digital marketing solutions for the global hospitality industry, is providing access to an early edition of its much anticipated annual Leisure Travel Study at HITEC 2019 in Minneapolis. HITEC attendees will have access to the study at Booth #2920 on the HITEC trade show floor. The Leisure Travel Study is a comprehensive analysis of the ever-changing...

Takeaways From the Caribbean Hotel Investment Conference

Allison Fogarty | June 10, 2019

By Allison Fogarty The Caribbean is open for business, although recovery continues. As the region continues to recover from the devastating 2017 storm season, many hotels have reopened, even as infrastructure work continues. As always, recovery takes longer than anticipated, but open insurance claims are settling, and a number of properties are slated to reopen later this year, in time for the 2020 high season. Following the devastation, many owners of heavily damaged properties have taken the opportunity to significantly upgrade their properties with the proceeds of their insurance settlements, which will enhance their future positioning....

HVS Design and JN+A Release 2019 Hotel Cost Estimating Guide

June 10, 2019

Rockville, Md., June 7, 2019: HVS Design and Jonathan Nehmer + Associates, Inc. (JN+A), leading Architecture, Interior Design, and Project Management firms specializing in the hospitality industry, are proud to announce the completion of the 2019 Hotel Cost Estimating Guide.  The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations. Now in its eleventh year, the 2019 Hotel Cost Estimating Guide evaluates costs in a variety of hotel tiers including Economy, Extended Stay, Midscale, Upscale, Upper Upscale, and Luxury.  Within each tier, costs are separated into the categories of Gues...

Key Takeaways From the 2019 South East Asia Hotel Investor’s Summit (SEAHIS)

Paola Orneli Bock | May 31, 2019

By Paola Orneli Bock, Han Sol Park, Ruj Masan May 31, 2019 -- HVS proudly sponsored the third edition of the South East Asia Hotel Investors' Summit that was held May 16-17 at the Westin Grande Sukhumvit Bangkok. This year's event saw over 200 delegates interacting with hospitality industry leaders on a number of key issues, such as the role of the sharing economy, franchising, demand and supply outlook for 2019, and new distribution channels disrupting the industry. HOFTEL and HVS also presented the intermediary results of the first OTA survey in an effort to shed some light on the actual costs of distribution. Below are some key takea...

Latin America’s Hotel Construction Pipeline Enters Third Year of a Cyclical Slowdown

Lodging Econometrics | May 30, 2019

May 30, 2019 – PORTSMOUTH, NH - In the recent Latin America hotel construction pipeline trend report, analysts at Lodging Econometrics (LE) state that the total construction pipeline stands at 717 projects/123,804 rooms, down 8% year-over-year (YOY) as it enters the third year of decline from its 2015-2016 peak. Projects presently under construction stand at 329 projects/57,735 rooms. Projects scheduled to start construction in the next 12 months stand at 207 projects/34,712 rooms and those in the early planning stage are at 181 projects/31,357 rooms. The first quarter of 2019 had 29 new hotels/5,405 rooms open. The LE forecast fo...

Navigate the Pitfalls Motel Valuations – Part 1

Rodney G. Clough | May 29, 2019

By Rodney Clough Independent, budget motels are often operated by resident owners that are talented at running efficient, safe motel operations but lack sophisticated and complete financial models that generate proper reports upon which to base purchase and valuation decisions. It is important for a buyer to understand that available financial information may not tell the full story, and relying solely on what is available may sell short the profit potential of the hotel and, ultimately, its true value. In Part 1 of this series, I discuss the importance of deriving a proper revenue estimate and testing its reasonableness against the nor...

Gradual Slowdown in U.S. Hotel Performance to Continue

CBRE Hotels | May 29, 2019

Atlanta – May 29, 2019 – The U.S. lodging supply will increase at an annual pace greater than the long-run average through 2022, according to CBRE Hotels Research's latest report. Meanwhile, the annual rise in the demand for these new hotel rooms is projected to average roughly three-quarters of its respective long-run average. The result is declining occupancy forecasts for the U.S. lodging industry in both 2020 and 2021. According to the June 2019 edition of Hotel Horizons®, CBRE Hotels Research projects U.S. national occupancy levels to remain flat in 2019 at 66.2 percent, then decline to 65.7 percent in 2020 and 64.6...

U.S. Travel Community Reacts to Falling Travel From China

U.S. Travel Association | May 29, 2019

WASHINGTON (May 29, 2019) — U.S. Travel Association Executive Vice President for Public Affairs and Policy Tori Barnes issued the following statement on reports that Chinese travel to the U.S. has fallen sharply, according to U.S. government data. See also U.S. Travel's latest International Inbound Travel Market Report for China. "The difficulty with trade skirmishes is that the unintended consequences are hard to predict, and we were concerned from the start that tensions with China might affect business and other travel to the U.S. "The irony is that travel exports have been the greatest success story of our trade ...

Canada’s Hotel Construction Pipeline Remains Strong With Double Digit Increases Year-Over-Year

Lodging Econometrics | May 28, 2019

May 28, 2019 – PORTSMOUTH, NH - Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2019, the total construction pipeline in Canada remains strong with 264 projects/33,023 rooms. Construction pipeline projects and rooms are both up an impressive 11% year-over-year (YOY). A driving force of the pipeline's double-digit growth is the surge in projects in the early planning stage with 80 projects/11,328 rooms, up 48% and 53% YOY, respectively. Currently, there are 93 projects/10,466 rooms under construction and 91 projects/11,229 rooms scheduled to start construction in the next 12 months, a record h...

HVS Market Pulse: Houston, Texas

J. Carter Allen | May 23, 2019

By J. Carter Allen All things considered, the Houston economy weathered the worst energy depression since the 1980s relatively well, highlighting the depth and diversity of Houston's economic base today. Job growth in other sectors, such as healthcare, professional services, and construction, helped offset the approximately 25% loss in energy-related jobs. While the oil-and-gas industry is no longer the sole pillar of the local economy, it remains, nonetheless, and integral component. Hiring activity tied to oilfield services and the manufacturing industry has picked up in response to rising oil prices and increased activity in the Perm...

HVS Market Pulse: State of Hawaii

John Berean | May 21, 2019

By John Berean May 21, 2019 -- Hawaii experienced another stellar year of RevPAR performance in 2018, bolstered by improved airlift and a strong domestic economy, which resulted in another record year of visitor arrivals. Despite these impressive achievements, the year was not without its share of difficulties, including volcanic eruptions at Kīlauea, disruptions caused by Hurricane Lane and Hurricane Olivia, and an extended 51-day hotel worker strike. Nevertheless, the Hawaii Department of Business, Economic Development & Tourism (DBEDT) forecasts sustained year-over-year growth in visitor arrivals through 2022, which should suppo...

Attrition and Cancellation Revenue

Robert Mandelbaum | May 20, 2019

By Robert Mandelbaum Per the Uniform System of Accounts for the Lodging Industry (USALI), the income received from transient and group guests that fail to occupy a room, or cancel a reservation in the prescribed timeframe, and for which payment was guaranteed on an individual basis, is recorded as No Show Revenue in the Rooms Department. This source of revenue is frequently difficult to identify as a discrete source of income on the standard hotel operating statement format. On the other hand, the fees hotels receive from the cancellation of group meetings are typically presented as a separate line item in Miscellaneous Income. Because ...

HVS Market Pulse: Asheville, North Carolina

Janet Snyder | May 20, 2019

By Janet Snyder In 2017, Asheville attracted roughly ten million visitors who spent nearly $2 billion at local businesses, with approximately 40% of travelers requiring overnight accommodations. The city has always been a popular regional destination given its outdoor activities, temperate climate, arts culture, and kitschy downtown. In recent years, it has become better known for its foodie culture, thriving music scene, and offering of microbreweries, with about 50 small and large brewing operations throughout the city. With the city landing on the list of top destinations in numerous publications in recent years, it has become more o...

HVS Market Pulse: Downtown Omaha, NE

Sara Olson | May 17, 2019

By Sarah Olsen Local Economy and Redevelopment Projects A major revitalization period commenced in Omaha's Downtown Central Business District approximately 15–20 years ago when several high-profile projects were completed. Between 2002 and 2005, development projects included the construction of the First National Bank Tower (both the city's and the state's tallest building), the CHI Health Center, the Gallup Riverfront Campus, the Union Pacific Center, and the Holland Performing Arts Center. Another wave of redevelopment has hit the shores of the Missouri River in recent years, and several major projects are either currently under...

Canadian Lodging Outlook Quarterly 2019-Q1

HVS | May 17, 2019

May 17, 2019 -- HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. If you would like a detailed hotel performance data for all of Canada, STR offers their Canadian Hotel Review. The Canadian Hotel Review is available by annual subscription. For further Information, please contact: or +1 (615) 824-8664 ext. 3504. ...

Amy Johnson Named General Manager of The Confidante Miami Beach

The Confidante Miami Beach | May 17, 2019

Miami Beach, Fla. (May 17, 2019) – Amy Johnson has been appointed general manager of The Confidante Miami Beach, effective immediately. The Confidante Miami Beach is part of The Unbound Collection by Hyatt brand, a portfolio of new and existing upper-upscale and luxury hotel properties that offer a truly differentiated stay, with personality, elegance and charm. The independent brand, which encompasses a wide range of unique properties, offers striking new adventures and unforgettable experiences. A celebrated hospitality professional with more than 30 years of industry experience, Amy most recently served as General Manager of Hy...

Drew Clarke Joins Waldorf Astoria Beverly Hills as Director of Sales and Marketing

Waldorf Astoria Beverly Hills | May 16, 2019

BEVERLY HILLS, Calif. – May 17, 2019 – Waldorf Astoria Beverly Hills announces the appointment of Drew Clarke as the new Director of Sales and Marketing, bringing a wealth of knowledge and experience to the award-winning property. Clarke will oversee the sales and marketing teams, both dynamic divisions essential to the growth and success of the hotel. Clarke returns to his home state of California with his new position at the Waldorf Astoria Beverly Hills after his career in luxury hospitality has taken him around the world. Over the last two decades, he has worked across various capacities including Food and Beverage, Huma...

How to Add Value to Your Hotel Asset

Carrie Russell | May 16, 2019

By Carrie Russell At the most basic level, the value of a hotel is based on the property's net income divided by a capitalization rate. As such, one has two possible levers to adjust as a means of increasing a property's value: either increase the property's net income or decrease the capitalization rate. The capitalization rate, which is a factor that represents both the risk and the desired return associated with a given asset, is in actuality difficult to influence. Firstly, returns are market driven, which means that the capitalization rate is determined by market forces, not the will of owners. Secondly, it is the buyer's perceptio...

Auro Hotels Welcomes Kirby Smith as Vice President of Sales & Marketing

Auro Hotels | May 16, 2019

Kirby Smith, an industry veteran with a proven track record of over 32 years with Marriott International, will lead revenue generation for all Auro Hotels and support the company's commitment to customer satisfaction and profitability. GREENVILLE, SC (May 17, 2019) - Auro Hotels, a leader in hospitality, is proud to welcome Kirby Smith as Vice President of Sales and Marketing. After a 32-year career with Marriott International, Smith joins the Auro team with a proven track record in sales and marketing leadership positions. Focusing on revenue generation for all hotels and supporting the company's commitment to customer satisfaction an...

Owned by Key International and Managed by LBA Hospitality, Hampton Inn New Smyrna Beach Completes Major Renovation

Key International | May 15, 2019

NEW SMYRNA BEACH, Fla. (May 17, 2019) - The Hampton Inn New Smyrna Beach (214 Flagler Avenue) has recently completed an extensive renovation of all 112 guest rooms, 1,800 square feet of meeting space, and public spaces. The comprehensive enhancements provide leisure, business and group travelers an inviting and updated feel in the picturesque coastal city of New Smyrna Beach. The property held a post renovation celebration on Wednesday, May 15th to celebrate their refreshed and updated look. "We're very excited to welcome guests to this newly renovated property," said Farrah Adams, Chief Operating Officer of LBA Hospitality. "The upgrad...

IHG’s Holiday Inn Express, Hilton’s Home2 Suites, and Marriott’s Fairfield Inn Claim 20% of U.S. Construction Pipeline Projects

Lodging Econometrics (LE) | May 14, 2019

May 13, 2019 – PORTSMOUTH, NH -- In the Lodging Econometrics (LE) first quarter report for 2019, analysts detailed the leading franchise companies and their brands in the construction pipeline. Leading in the pipeline is Marriott International with 1,499 projects/196,771 rooms and Hilton Worldwide with 1,386 projects/154,349 rooms, both at all-time record highs. InterContinental Hotels Group (IHG) follows with 980 projects/99,115 rooms. These three franchise companies alone comprise 68% of the projects in the total pipeline. The leading brands in the construction pipeline by project count for each of these three companies are IHG'...

The U.S. Hotel Construction Pipeline Continues to Grow in the First Quarter as the Economy Shows Surprising Strength

Lodging Econometrics | May 13, 2019

May 13, 2019 – PORTSMOUTH, NH - At the end of the first quarter of 2019, analysts at Lodging Econometrics (LE) reported that the total U.S. construction pipeline continued to expand with 5,647 projects/687,941 rooms, up a strong 7% by projects and 8% by rooms year-over-year (YOY). Pipeline totals are a mere 236 projects, or 4%, shy of the all-time high of 5,883 projects/785,547 rooms reached in the second quarter of 2008. The record should be pierced later in the year. Conversions and renovations are already at record levels. Projects currently under construction stand at 1,709 projects/227,924 rooms with projects scheduled to sta...

HVS Market Pulse: Cape Town

Lolwethu Luthuli | May 9, 2019

By Lolwethu Luthuli Market Profile Cape Town is one of the most multicultural cities in the world, reflecting its role as a major destination for immigrants and expatriates to South Africa. As of 2018, the city had an estimated population of 4.5 million. The CTICC CEO Julie-May Ellingson has announced a R900m CTICC 2 development, this planned all glass sky bridge between the two parts of Cape Town International Convention Centre could become the mother city's latest tourist attraction. Source: Airports company South Africa 2018 The economy is sophisticated, relying on the tertiary sector, primarily the financial and insurance sectors, ...

HVS Market Pulse: Memphis -Rehabilitation, Revitalization, and Restoration

Bunmi Adeboye | May 7, 2019

By Bunmi Adeboye, Adam R. Lair The Mississippi River, five Class-I railroads, a myriad of highways and interstates, and an international airport have molded Memphis into an important transportation hub and major logistics center. At the heart of its logistics prominence and rank as the world's second-busiest cargo airport is the FedEx Express World Hub operations. With so much to offer in the manufacturing, healthcare, finance, and high-tech industries and sectors, many companies have chosen Memphis as their base of business. Methodist Le Bonheur Healthcare, St. Jude Children's Research Hospital, Baptist Memorial Healthcare, DuPont, Car...

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