/Tag: hvs


NYU Conference Takeaways: Cautious Optimism Turns to Caution

Rodney G. Clough | June 6, 2019

By Rodney Clough The 41st NYU International Hospitality Industry Investment Conference wrapped up on June 4, 2019, and the overall sentiment of the event was one of caution, a shift from a sentiment of cautious optimism at conferences earlier in the year. Most expect the next industry downturn to come soon, perhaps as soon as next year or early 2021. Absent a Black Swan event, the expectation is for a correction rather than a deep downturn. Main takeaways include the following: Caution but Not Panic There is substantial equity and debt available for the hotel sector. The long-term view for the sector is positive and it is seen as less...

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...

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...

Choice Opens Two New York Comfort Inn Hotels in Brooklyn and Long Island City

May 29, 2019

ROCKVILLE, Md., May 29, 2019 -- Comfort hotels, franchised by Choice Hotels International, Inc. (NYSE: CHH), continues its nationwide expansion with the opening of two hotels in Brooklyn and Long Island City, N.Y. The newly built hotels are the latest to open as part of the brand's multi-year transformation, featuring updated room and public space designs, as well as the new Comfort logo. The Comfort brand has more than 300 properties in its pipeline, 80 percent of which are new construction. More than 60 Comfort hotels are expected to open this year in major cities across the United States, including Dallas; Nashville, Tenn.; Pitts...

Hyatt Enters Agreement With Sun Hung Kai Properties Limited for 665-Room Hyatt Centric Victoria Harbour Hong Kong

Hyatt Centric | May 28, 2019

CHICAGO (May 28, 2019) – Hyatt Hotels Corporation (NYSE: H) announced today that a Hyatt affiliate has entered into an agreement with an affiliate of Sun Hung Kai Properties Limited to rebrand the 665-room Hotel VIC on the Harbour to Hyatt Centric Victoria Harbour Hong Kong by the third quarter of 2019. This will be the first Hyatt Centric hotel in the Greater China region, joining the brand's inaugural property in Asia, Hyatt Centric Ginza Tokyo which opened in 2018. Tailored for socially connected guests seeking shareable moments, the hotel's social areas and food and beverage concepts were designed by Hong Kong-based architect ...

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...

IDeaS and Springer-Miller Systems Announce New Two-Way Integration Capabilities

IDeaS | May 23, 2019

Leading technology providers expand partnership to provide accessible, real-time revenue and market data for hotels and resorts Tweet This: @IDeaS_RevOpt and @SpringerMiller just announced an expanded partnership with a two-way integration providing accessible, real-time revenue and market data for hotels and resorts www.ideas.com/news #hoteltech MINNEAPOLIS—May 22, 2019—IDeaS announced today it has expanded its partnership with Springer-Miller Systems' SMS|Host (SMS) to provide two-way integration capabilities with IDeaS G3 Revenue Management System (RMS). This real-time functionality provides resorts and hotels with new levels of ...

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...

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