market pulse

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market pulse

HVS Market Pulse: Reno, Nevada

Desiree Flanary | October 31, 2019

My first article about Reno was in 2008, just after I moved to the market. As I was falling in love with this unique city that was struggling from the Great Recession, local officials were working to diversify its economic base away from gaming. Occupancy and average rate (ADR) in the market not only struggled because of the decline in demand associated with the Great Recession, but this was further exacerbated by the addition of new supply continuing to enter the market after the recession had hit. In 2017, I wrote an updated article on the market focused on the growth that had occurred while the market recovered from the Great Recession and...

HVS Market Pulse: Colorado Springs, Colorado

Katy Black | October 24, 2019

By Katy Black There are 15 full-service hotels in Colorado Springs representing nearly 3,900 of the 10,550 total hotel rooms in this market. Interestingly, there are three full-service hotels that are branded under the Wyndham Hotels & Resorts parent company. The Mining Exchange Hotel opened in 2012 as a Wyndham Grand, The Antlers Hotel affiliated with Wyndham in 2016 after de-flagging from a Hilton, and the Cheyenne Mountain Resort joined Wyndham under the Dolce Hotels & Resorts affiliation in September 2017. Combined, these three hotels have over 700 rooms, which is only about 70 rooms shy of The Broadmoor. Hyatt, Hilton, Marriot...

Paris Hotel Market – A Rocky Start to the Year

Dayk Balyozyan | September 3, 2019

By Dayk Balyozyan & Sophie Perret Since our previous article in April 2018, the business environment in France has experienced positive change with a decrease in unemployment rate and an increase in purchasing power, following the ‘gilets jaunes’ disruption. The Economist Intelligence Unit forecasts modest GDP growth to pick up to around 1.5% for the foreseeable future. In terms of tourism, Paris enjoys an exceptionally well-balanced mix of business and leisure demand, which allows the City of Lights to have both a broad seasonality and strong average rate. Paris has remained, alongside London, one of the two most desirable destina...

Brussels Hotel Market – Recovery Now Complete

Lionel Schauder | July 2, 2019

By Lionel Schauder and Sophie Perret Brussels, with a population of approximately 1.2 million, enjoys a strategic location in the heart of Western Europe, making it both a regional metropolis and an international hub. In addition to its role as capital of Belgium, the city is home to NATO’s headquarters and is widely known as the ‘capital of Europe’, hosting both the European Parliament and the European Commission. Described as the ‘new Berlin’ by the New York Times in 2015, an eclectic and creative facet of Brussels has recently emerged, represented by its community of artists, architects and designers. ECONOMIC INDICATORS ...

HVS Market Pulse: Arlington, Texas

Kathleen Donahue | April 25, 2019

By Kathleen Donahue Arlington: History as a Popular Texas Playground Arlington's Entertainment District neighborhood is deep rooted within the sports and entertainment industries. Six Flags Over Texas opened in 1961, followed by Six Flags Hurricane Harbor (opened as Wet 'n Wild) in 1983. Seven Seas Marine Life Park operated in the early 1970s on what is now the site of the Sheraton hotel, with some original structures incorporated into the hotel's physical plant. In 1994, the $191-million Globe Life Park in Arlington replaced Arlington Stadium, which had served as the home for the MLB Texas Rangers from 1972 to 1993. The 2009 openi...

HVS Market Pulse: Boulder, CO

Brett E. Russell | March 26, 2019

By Brett E. Russell Since 2015, four new hotels (681 rooms) have opened within Boulder's city limits, increasing the total number of hotel rooms to almost 2,500. This represents a sizable increase of around 32%; however, in the years leading up to this increase in supply, Boulder experienced a decline in room supply, as several older hotels were closed and redeveloped. As such, the net change in room count is closer to 15%. Furthermore, there are a couple of proposed hotels in very preliminary planning phases of development, including a project on University Hill, as well as a possible University of Colorado – Boulder campus hotel...

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...

HVS Market Pulse: Rochester, MN – Medicine at the Forefront of Development

Justin Westad | March 7, 2019

by Justin Westad The healthcare sector is the cornerstone of the Rochester market, represented largely by entities such as the Mayo Clinic, Saint Mary's Hospital, and Rochester Methodist Hospital, which is visited by over 1.3 million patients per year. After years of expansion and growth, the Downtown Rochester market is expected to receive an even bigger boost with approximately $5.6 billion of public and private investment injected over the next 20 years through the Destination Medical Center Initiative (DMC). The goal of the initiative is to transform the city into a world-renowned destination medical center. Projects will be aim...

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