hvs
HVS Webinar Recap: Cross-Border Hotel Investment Between the UAE and Israel
Russell Kett | April 16, 2021
By Russell Kett The first-ever webinar on Cross-Border Hotel Investment between the UAE and Israel took place last week, jointly presented by HVS at the Israel Ministry of Tourism, the UAE-Israel Business Council and Copeland Hospitality. More than 230 delegates from the hospitality industry worldwide gathered online to hear contributions from MK Orit Farkash-Hacohen, Minister of Tourism of the State of Israel, and her ministry colleagues Amir Halevi and Lorin Maugery. Robin Rossman of STR presented an analysis of the recent performance of hotels in the UAE and Israel, followed by an interview with Kamal Naamani of the A...
In Focus: Singapore
Peggy Lee | April 16, 2021
By Peggy Lee, Chariss Kok Xin, Hok Yean CHEE Key Highlights in 2020 The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of an estimated 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its growing population of approximately 5.7 million people, Singapore has witnessed remarkable record of sustained economic growth throughout the years and bolsters its role as a global commerce, finance and transportation hub. Source: Unsplash Due to the impact of the Covid-19 pandemic, Singa...
COVID-19’s Impact on the Albuquerque Lodging Market
McKenna Luke | April 13, 2021
By McKenna Luke Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. According to Visit Albuquerque, Albuquerque’s RevPAR fell roughly 47% in 2020 from 2019 levels, driven primarily by occupancy losses of up to 33% compared to 2019 and ADR declines of up to 21%. The occupancy loss was not only a factor of limited demand caused by the travel halt at the onset of the pandemic, but also of New Mexico being closed to travelers from outside the state for most of the year. As many other markets in the United States were supported mid-summer by leisure guests, ...
2020 European Hotel Transactions
Shaffer Patrick | April 12, 2021
By Shaffer Patrick Total European hotel transaction volume reached €8.5 billion[1] in 2020, representing a fall of 69% on 2019 (see Chart 1), which was the previous market peak at €27.1 billion. Even so, 2020 figures remain significantly ahead of those seen in the Global Financial Crisis, with 2009 seeing only €3.1 billion in transaction volume. Highlights 48% of the total 2020 transaction volume occurred in the first three months of the year, primarily representing transactions that were agreed pre-pandemic; Single assets accounted for €5.5 billion or 65% of the 2020 total, decreasing 54% from 2019, though significantly ...
COVID-19’s Impact on the San Antonio Lodging Market
David Bone | April 8, 2021
By David Bone, Shannon Sampson Prior to the COVID-19 pandemic, Downtown San Antonio was enjoying a decade of revitalization and growth. The year 2020 was poised to be a banner year, spurred by the Henry B. Gonzalez Convention Center’s $325-million renovation and expansion, which was completed in January 2016. Data provided by the Texas Comptroller of Public Accounts indicate that hotel revenue across the San Antonio-New Braunfels MSA declined by roughly 53% in 2020. RevPAR for the MSA remained relatively stable in 2018 and 2019, before plummeting approximately $40 in 2020 to a historical low of $37. New hotel supply increased by alm...
Europe’s Hotels See Values Fall by up to 15% but Longer Term Outlook Strong, Reveals HVS Report
HVS | March 31, 2021
London - March 31, 2021 - Sharp declines in revenue caused by the pandemic coupled with a more cautious approach to lending has prompted hotel valuations to fall over the past 12 months, although not as steeply as some had initially anticipated. This is the key finding of the annual European Hotel Valuation Index (HVI) compiled by global hotel consultancy HVS, which reports that in the year of the COVID-19 outbreak hotel values saw average declines of between 5% and 15% compared with the previous year. Last year followed a decade of hotel value rises across Europe, with 2019 posting an average 3% increase – with some properties in...
COVID-19’s Impact on the San Francisco Lodging Market
John Berean | March 30, 2021
By John Berean Prior to the onset of COVID, San Francisco was amid a tech-driven renaissance that placed the city and the nine-county San Francisco Bay Area as one of the top-growing metro areas over the last decade. Similar to during the internet-driven dot-com boom of the late 1990s, the city experienced tremendous economic growth, resulting in strong hotel performance. Market occupancy exceeded 80% between 2012 to 2019, while ADR increased at a compound annual growth rate of 7% for the nine years between 2010 and 2019. By many metrics, 2019 was a record year for San Francisco. According to the San Francisco Travel Association (SF Tr...
HVS Market Pulse Update – Minneapolis – St. Paul
Tanya Pierson | March 25, 2021
By Tanya J. Pierson, Justin Westad, Rod Clough Rod Clough, President – Americas, interviewed Tanya Pierson, Senior Managing Director, Minneapolis and Justin Westad, Vice President, Minneapolis overseeing the Upper Midwest region, on March 23, 2021, to discuss the current Minneapolis market dynamics and the outlook for recovery. Tanya and Justin outline what the market looks like today, the factors contributing to current performance levels, and what will help drive improvements in future performance. They provide their forecast of occupancy and average rate for Minneapolis-St. Paul, as well. This seven-minute video provides important ins...
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