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rodney clough

Home/Tag: rodney clough

rodney clough

rodney clough

Third-Quarter Brand Performance Update: Summer Helps Industry Gain From Q2 Shutdown Lows

Rod Clough | November 19, 2020

By Rod G. Clough Third-quarter results for public company brands showed marked improvement from the lows of the second quarter, which included widespread lockdowns, strict gathering restrictions, and extreme curtailing of corporate travel. Moreover, during this early-in-the-crisis period, the public at large was generally more willing to reduce or eliminate any travel plans and stay at home. As the summer took hold, COVID-fatigue began to sink in, and more and more travelers emerged from their homes to book vacation travel. More time could be spent outdoors, and restaurants and other leisure-related venues reopened with adjustments for COV...

Economy Extended-Stay Hotels Hold Up Best During Q2 2020

Rodney Clough | September 8, 2020

By Rodney Clough, Chelsey Leffet The second quarter of 2020 was the low point for the hospitality industry, as the world was gripped by the pandemic and as travel lockdowns were widespread. HVS compiled the 2020 performance statistics of brands reported by public companies for the second quarter and compared the data to second-quarter performance of 2019. The data reflect the resiliency of economy, extended-stay brands during the first months of the pandemic. Average Q2 Occupancy Decline (Points of Occupancy) Source: Stock Filings Economy, extended-stay brands experienced the least amount of impact, albeit still a significant ...

2019 HVS Performance Report: Spa Department

Rodney G. Clough | January 6, 2020

By Rodney Clough, Mia Mackman On average, spa and wellness departments run profitably and can contribute significantly to a hotel’s bottom line. This report is our second annual performance report published by HVS that tracks and monitors spa department performance and profitability. The data presented reflect spa operating-statement averages and data points from 2018 through the third quarter of 2019. Across HVS’s 40 U.S. locations, our expert associates are continually consulting on hotels and resorts with significant spa and wellness operations, which are captured within their own departmental statement on an operating profit and...

2020 United States Hotel Industry Outlook

Rodney Clough | December 19, 2019

By Rodney Clough The U.S. economy continues to hold strong, showing great resiliency. The overall strength in consumer spending and confidence has benefited the U.S. hotel industry, as well, driving gains in hotel demand, although not at quite a high enough level to balance the new supply that opened in 2019. As such, occupancy is forecast to decline slightly in 2019, while ADR gains will keep RevPAR change in the positive column. Projects that began construction when new supply starts intensified a couple of years ago are now readying to begin welcoming guests in 2020. Demand should continue to grow, but is not expected to keep pace wi...

Equity Yield Rates on the Decline

Katy Black | November 21, 2019

By Katy Black and Rodney Clough HVS continually tracks the rates of return on the assets on which we consult. In our most recent review, we found that equity yield rates, on average, have shown a continued trend of decline in the full-service and luxury hotels sector, as well as the lower-tier limited-service sector, with the select-service and upscale limited-service sector showing stability. Equity yield rates were notably lower for full-service and luxury hotels, averaging 16.4% for the year-to-date 2019 period, which is 140 basis points (bps) below the 17.8% most recent peak level recorded in 2017. This decrease was driven largely b...

Taking the Pulse of the Nation’s Largest Hotel Markets

Rodney Clough | September 25, 2019

By Rodney Clough On recent visits to Las Vegas to host an internal training meeting at Mandalay Bay and then to complete a consulting engagement at a suburban limited-service hotel, I found the city to be extremely active. This was reflective in the statistics for the hotel market, with citywide occupancy approaching 90%, according to the Las Vegas Convention and Visitors Association. There were no discernable signs of the city’s heightened activity slowing down, yet. With all this talk of a pending economic slowdown and lackluster RevPAR growth nationwide, I thought I would check with some of my firm’s C&V leaders to see what they...

HVS 2019 Hotel Parking Survey

Rodney G. Clough | August 23, 2019

By Rodney G. Clough Most hotels in urban centers profit considerably off of available parking capacity and, depending on the garage size and operational strategy of the hotel owner, garages can be significant value drivers. Our experience reflects that parking garages can operate with departmental profit as high as 40% to 50% if managed internally, or garages can be significant profit centers when operated by experienced, third-party garage operators. With more and more travelers using shared ride services to get around town, smart hotel operators are renting excess parking capacities on monthly contracts to commuters working in adjacent o...

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...

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