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luigi major

HVS Market Pulse: Los Angeles, CA

Luigi Major | March 21, 2019

By Luigi Major Los Angeles now ranks as one of the most economically powerful cities in the world, supported by a robust office market, a growing tech sector, and of course, a near-perfect, year-around climate that continues to drive high levels of visitation. This has resulted in healthy hotel occupancies and average daily rates (ADR) despite a 3.1% increase in supply in 2018. In 2018, L.A. added approximately 56,800 jobs, representing a 0.9% increase over the prior year. The city's economic drivers continue to be the entertainment industry, the Port of Los Angeles/Long Beach, leisure and hospitality, retail, manufacturing, and educati...

Blurred Lines Between Hotels and Airbnb

Luigi Major | September 20, 2018

By Luigi Major In this new day in age, the meaning of travel has taken an interesting turn in terms of what is driving consumers away from home. The generation of material pleasantries has come and gone, and what people are really looking for these days are new and engaging experiences. Curiosity is driving interest away from the status quo. While the necessities, like having a great location, providing safety and security while keeping a high standard for quality, will always hold value, consumers are seeking ways to leverage their travel by experiencing and becoming one with the surrounding environment. A new fine line has been create...

HVS Market Pulse: Palm Springs & Desert Cities

Luigi Major | February 16, 2018

By Luigi Major The Coachella Valley extends for approximately 45 miles in Riverside County and comprises the following nine cities: Palm Springs, Rancho Mirage, Palm Desert, La Quinta, Indio, Indian Wells, Desert Hot Springs, Coachella, and Cathedral City. Typically, the population of these desert cities nearly doubles during the winter months by growing interest in leisure travel, improving convention business, and large-scale events, supplemented by part-time residents from colder climates due to its warmer temperatures. Tourism is the major industry in this area, with a variety of attractions and special events drawing significant nu...

Top 6 Hotel Success Factors

Luigi Major | August 29, 2017

By Luigi Major What makes some hotels more successful than others? It is true that the selection of a site, market, brand, and management team are crucial to the success of a property. But after many years at HVS in the Consulting & Valuation division, and hundreds of consulting assignments later, I contemplated the question, "Aside from these things, what really makes some hotels work?" In this article, I share what I believe to be some of the most important factors that must be considered in the acquisition or development of a hotel, which ultimately lead to a property's financeability, profitability, and long-term success. I have...

HVS Key Takeaways: Hotel Opportunities in Latin America (HOLA) 2016

Luigi Major | June 1, 2016

By Luigi Major The 2016 HOLA conference roused both enthusiasm and caution for Latin America's hotel industry. Major markets benefit from their alignment with the U.S. dollar, but hurt from oversupply. Smaller markets, however, may be poised for growth. This year's Hotel Opportunities in Latin America (HOLA) conference opened with mixed signals. On one side of the picture, the drop in commodity prices, historic increases in hotel supply, and weaker exchange rates continue to impact Central and South American economies, now in the fifth year of an economic slowdown and the second year of recession. On the brighter side, an increasing amo...

Four Key Takeaways | Meet the Money 2015

Susan Furbay | May 19, 2015

By Susan Furbay, Li Chen and Luigi Major Hoteliers and financiers met in Los Angeles to discuss the pitfalls and possibilities for U.S. hotel investment as the industry continues its upturn in performance. As hoteliers from coast to coast convened in Los Angeles, it was clear that 2015 is indeed the year to "Meet the Money." Hotel professionals remain confident that the upturn in the industry will carry on throughout this year and into several more. This enthusiasm about performance is kept not just by hotel owners and developers, but by traditional lenders and alternative capital providers as well; however, it does not come without ca...

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