HVS publication In Focus Singapore 2023 provides an overview of Singapore’s economic outlook, infrastructure development, tourism landscape and hotel market performance, hotel transactions and investment in 2022, COVID-19 situation and outlook.
Following the effects of the COVID-19 pandemic, the Jersey Shore is proving its resiliency once again. Recently, the counties along the coast have experienced record occupancy tax collection levels, an increase in the redevelopment of dated motels, and the addition of many large-scale, family-friendly attractions.
Taylor Swift’s Eras Tour has had an estimated $4.6 billion impact on the US economy. This seems absurd at first, but HVS analysis reveals that Swift’s tour is an immense outlier from other concert tours in attracting attendees from out of town. More than 3.7 million people travelled more than 100 miles from home to see Swift perform.
This monthly industry update highlights the key trends in the Indian hospitality industry.
AI adoption is on the rise globally, including in the F&B industry, where it's streamlining processes, reducing waste, and enhancing guest experiences. Read on to know more.
The Florida Panhandle remains popular among hotel developers and investors given the strength of the market in the post-pandemic period. An easy-to-reach destination for drive-to and out-of-state travelers alike, this Gulf Coast region has been a hotbed of activity for construction and transactions in the traditional-model hotel space since the summer of 2020.
Silicon Valley historically experienced strong lodging performance driven by high-rated corporate demand during the week. Thus, the rise of remote work policies has had an impact on recovery. However, the presence of Big Tech, surging interest in AI technology, and expansion of the life-sciences sector are anticipated to drive growth in this market over the long term.
The hotel market in Louisville, Kentucky, has experienced a slow recovery since the peak of the COVID-19 pandemic. While a copious amount of new supply over the past few years has slowed the recovery, ADR has grown steadily. The area will continue to be supported by bourbon tourism, the University of Louisville, and the Kentucky Derby.
Hotels have an edge over independent banquet halls when it comes to holding events because of their superior infrastructure, safety standards and brand image. However, with the evolving guest preferences and technological advances, it's time for hotels to throw out the old playbook and approach banquets with a fresh perspective, welcoming a new era of hospitality. Read on to know more.
The state of Arizona, including Tucson, recovered quickly from the COVID-19 pandemic. Hotel performance in Tucson has far exceeded pre-pandemic levels, primarily given ADR gains since 2020. In this article, we discuss the current state of Tucson’s hospitality industry, meeting and group demand factors, and investment interest in the market.