hotel & leisure advisors

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hotel & leisure advisors

Hotel Market in Grand Rapids Continues to Boom

Joseph Pierce, MAI | July 1, 2019

By Joseph Pierce, MAI Michigan’s economy is growing again, and Grand Rapids is leading the way. Since 2009, Grand Rapids has had the fastest growing regional economy in the state, increasing 29.2% to $58 billion, according to Michigan-based Bridge Magazine. The Metro Grand Rapids area has also been recognized as one of the fastest growing economies in the country. Headlight Data ranked Grand Rapids the 7th fastest growing economy in the U.S., based on Gross Regional Product (GRP) over the previous five years. All of this is good news for the thriving Grand Rapids hotel market. According to Experience Grand Rapids, the area’s officia...

Waterparks: Growth Trends in 2019

David J. Sangree | April 15, 2019

Diving Into Waterpark Growth Trends in 2019: 2019 will bring growth to the U.S. & Canadian markets as waterparks continue to evolve their attraction mix. By David J. Sangree, MAI, CPA, ISHC For the ever-growing waterpark industry, 2019 will be another year for robust growth as over $1 billion in investment is slated for indoor and outdoor waterparks and their related resorts. We project 21 municipal and private outdoor waterparks will open and three resorts will add or expand outdoor waterparks. The indoor segment will total 629,200 square feet of new waterpark space in 12 properties. Three of this year's most anticipated and exp...

Hotel Growth Continues in Major Ohio Markets

Adam Zarczynski | October 30, 2018

By Adam Zarczynski Ohio hotel supply: Benefiting from a strong economy, the United States hotel industry is currently experiencing a boom, which has developers across the country looking for their next opportunity. Many are finding that opportunity in major Ohio markets, as evidenced by significant growth in recent years. The Cincinnati, Cleveland and Columbus MSAs have each seen at least 15 new hotels open since 2016, with more properties currently under construction or proposed. Dayton trails the other MSAs with only six hotels opened since 2016, but all markets boast strong pipelines heading into the future. With all this new develop...

2018 Waterpark Forecast: Expansion

David J. Sangree | April 10, 2018

By David J. Sangree, MAI, CPA, ISHC Introduction The waterpark industry continues to expand in North America, with more than $1 billion in new investment in indoor and outdoor waterparks and their related resorts in 2018. Nearly 60 expansions and new facilities will open in 2018. We project 14 municipal and eight private outdoor waterparks will open, outpacing 2017's nine municipal and four private outdoor additions. We foresee increased growth in the indoor segment, where an additional 464,000 square feet of waterpark space is planned. Two of this year's most anticipated new waterparks are the SoundWaves Waterpark at Gaylord Opryland R...

Data Reveals Risks, Prospects Facing US Hotels in 2018

John Burke | February 1, 2018

By John Burke With the start of the new year, many of us take stock of where we are and what 2018 holds in store. The status of the U.S. hotel industry partly depends on the lens you're looking through—whether you're a franchise company, developer, owner, operator or investor. While the opportunities and strengths of one perspective could be a threat or weakness to another, these items contribute to the big picture, regardless of your role in the industry. Strengths Record occupancy: U.S. hotel occupancy of 65.9% in 2017 is the highest since STR began recording U.S. lodging performance in 1987. Gross operating profit: GOP per avai...

Hoteliers Take Note as Social Entertainment Venues Innovate

Eric B. Hansen | September 6, 2017

By Eric B. Hansen, MAI, AIA, ISHC Over the past several years our consultancy has been asked to explore social entertainment options that enhance a patron's experience whether at a resort, restaurant, casino, or mixed-use development. The trends of what's hot and innovative always ignites the discussion. The evolution of social entertainment involves an innovative mix of activities, culinary, and entertainment value differentiation in a marketplace that is rapidly changing through the innovative use of technology. Immersive Entertainment A leading trend is the concept of immersive entertainment, which is built on a foundation of...

Convention Center Hotels Boost Both Supply, Demand

John A. Kelley III, CHIA | June 30, 2017

By John Kelley, III, CHIA Municipalities across the United States are seeking approvals, funding or public-private partnerships to develop or redevelop their convention centers with an attached, big-box hotel. City councils in Kansas City and Oklahoma City are in process of getting approvals and funding secured while Portland, Oregon, and Chicago have such projects underway. One of the latest convention center hotel openings in the United States was the 600-room Hilton Cleveland Downtown, which opened on 1 May 2016. We analyzed supply and demand of four comparable tracts before and after development of their attached convention center h...

Highlights from the National Association of Sports Commissions Symposium

Eric B. Hansen | April 10, 2017

By: Eric B. Hansen, AIA, ISHC I recently attended the National Association of Sports Commissions 25th Annual Symposium in Sacramento California. The event brought sports authorities and event rights holders together in an atmosphere of congenial interaction for education and advancement of the sports travel industry. Hotel & Leisure Advisors is an allied member of the NASC and provides our clients (private developers, hotel chains, lenders, and municipal jurisdictions) with feasibility analyses, appraisals, and economic impact studies for various sports venues, hotels, and leisure attractions throughout the U.S. The following are so...

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