hvs
Catalysts for Growth – Tech Hubs Are Powering the Indian Hotel Industry’s Growth
Mandeep S Lamba | September 27, 2023
By Mandeep Lamba, Dipti Mohan, Dhwani Gupta The Indian technology industry, valued at a staggering USD 245 billion as of FY23, is a formidable pillar supporting the country’s GDP and overall economic growth. With continuous innovation driving its growth, this industry is poised to reach USD 500 billion by 2030. As one of the primary beneficiaries of the tech industry's influence, the hospitality sector is bound to experience the positive ripple effects of this growth. Tech hubs have globally been a catalyst for the hospitality sector’s expansion, attracting tech professionals, entrepreneurs, and business travelers in droves, which...
Navigating the Investment Terrain: Trends in GCC Hotel Development Costs
Hala Matar Choufany | September 26, 2023
By Hala Matar Choufany, Filippo Sona Welcome to the world of hospitality development, where unique developments and unforgettable moments come to life. We are thrilled to introduce you to our latest publication, "Navigating the Investment Terrain: Trends in GCC Hotel Development Costs" where we delve deep into the intricate world of hotel development costs, unveiling the secrets that impact project costs and hotel values. In this joint publication, we outline the main hotel development expenses and recent trends in hotel development and design. Whether you are a seasoned developer, an aspiring hotelier, or simply an enthusiast curious ...
Bringing New Energy to The Meadowlands in Northern New Jersey
Patricia Shih | September 25, 2023
By Patricia Shih The new Meadowlands Convention Center development has been proposed for the former Izod Center site in the Meadowlands Sports Complex. This major mixed-use project, which has an estimated $1.6-billion development cost, is planned to feature a 460,000-square-foot convention center, a headquarters hotel, and potentially two additional hotels. This proposed development is anticipated to generate roughly $30 billion in spending over a 30-year period. The project must next be reviewed and approved at the state level. Local officials are enthusiastic about this opportunity to reinvigorate the Meadowlands and northern New Jers...
HVS Conference Takeaways: The Lodging Conference 2023
Rod Clough | September 25, 2023
By Rod Clough With contributions from Eric Guerrero, Josh Williams, Neil Flavin, Zabada Abouelhana, James Rebullida, and Aleisha Smith Harry Javer and team executed another stellar Lodging Conference at the beautiful JW Marriott Desert Ridge, where over 2,700 attendees gathered to ponder and map the future of our great industry. We were thankful to sponsor such an important meeting, and I was honored to take the main stage at its start to share my perspectives on the direction of cap rates, discount rates, and values. Here are our takeaways from the conference: There is a notable disconnect at present between buyer and sel...
Phoenix, AZ: A Decade of Investor Confidence Pays Off
ZABADA N. ABOUELHANA | September 22, 2023
By Zabada N. Abouelhana, McKenna Luke, Aleisha Smith Phoenix has come a long way in the last decade, developing a diverse and welcoming economy that has allowed the city and surrounding communities to outperform other top-25 markets. Area officials and industry partners have made a concerted effort to grow the metro in a meaningful and multi-faceted way beyond the somewhat stable demand drivers of the former decades that slowed the recovery from the Great Recession. Furthermore, operators and officials were able to capitalize on the Super Bowl held in 2015 to grow overall RevPAR to a pre-pandemic high in 2019. Demand during that period w...
HVS Outlook Fall 2023: Discovering a New Normal
Anne R. Lloyd-Jones | September 18, 2023
By Anne R. Lloyd-Jones, McKenna Luke The strong growth that characterized the last three quarters of 2022 continued through Q1 2023 to complete a full twelve months of recovery. Despite inflation, an active Fed, and persistent recessionary concerns, the lodging industry continued to benefit from robust leisure and “bleisure” demand, supplemented by accelerating group demand. Overall, total demand exceeded 2019 levels beginning in September 2022, and this trend continued through March 2023. Trends through the middle of the year have been mixed. Occupancy levels remained relatively stable to modestly lower from April through August 2...
Richmond, Virginia’s RevPAR Rebound and Diverse Lodging Demand
Chelsey Leffet | September 18, 2023
By Chelsey Leffet Richmond’s economy is diverse compared to the greater region. The city has long been a hub for a number of industries, including financial, medical, biotechnology, manufacturing, and transportation. Moreover, the presence of federal and state agencies is a stabilizing factor for the area’s economy. The city’s economic base is supported by major colleges and universities, Dominion Energy, a Federal Reserve Bank, Virginia Commonwealth University Health System, and the VA Bio+Tech Park businesses, just to name a few. Local hotels benefit from the strength of these employers. The Richmond region’s lodging ...
Conroe, Texas: North Houston’s Emerging “Leading Lady”
Kira Black | September 14, 2023
By Kira Black Conroe provides small-town living while located only 40 miles north of Houston, the fourth-largest city in the country. This quaint city is currently having a resurgence and is considered one of the fastest-growing cities in Texas. Conroe has a reported population of 103,035 as of August 31, 2023, a 36% increase from 2013, and it is only projected to grow. The town has ample land for new development, and the recent improvements are heavily influenced by the city development model of The Woodlands just ten miles south. With this location near The Woodlands and so much available land, Conroe is starting to experience spillov...
1
Technology
2
Appointments/People on the Move
3
Operations
4
Industry Happenings
5
All Things Independent
Today's News
Commonwealth Hotels Appoints Stacy O’Reilly as Area General Manager of the Hyatt Place Portland-Old Port and the Docent’s Collection
Levering Cinematic Success With Fairmont The Queen Elizabeth’s Barbie Adventure
Catalysts for Growth – Tech Hubs Are Powering the Indian Hotel Industry’s Growth
Nobu Hotel at Caesars Atlantic City Set for January 2024 Opening
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.