The Kansas City hotel market has rebounded following the impacts of the COVID-19 pandemic, and high levels of leisure demand and the return of convention activity have driven the recovery. Despite rising construction costs, a number of hotel developments are proposed in Kansas City, signaling an optimistic outlook for the market.
This paper presents findings from a survey of business event participants conducted in February and March of 2023. The survey aims to explore changes in the frequency of travel, motivations for travel, and changes in travel behaviors. Results show promising growth in 2023 and that the desire to network with peers and destination appeal are the strongest factors influencing decisions to travel to business events.
Everything is bigger in Texas, even the post-pandemic recovery. Hotel metrics are showing strong improvements, and convention demand should be further bolstered in the future by a new convention facility. As a result, new hotel construction is again vibrant across the Metroplex after a temporary slowdown during the pandemic.
HVS discusses the main hotel transactions that took place in 2022 and looks at the trends in single-asset and portfolio transactions over the years.
In 2022, Boise's convention industry flourished thanks to expanded Boise Airport routes. Despite lacking a large convention hotel, Boise hotels enjoyed a remarkable rise in RevPAR in 2022, with Downtown hotels surpassing pre-pandemic levels. Furthermore, Micron Technology's expansion and the city's growth in tech and commercial development bode well for Boise's economic future.
This report highlights the key trends in the Indian hospitality industry in 2022 along with the sector performance metrics, brand signings, and brand openings during the year. It also provides our outlook for the sector for 2023.
This article discusses the key trends in hotel brand signings witnessed in the Indian hotel sector in 2022.
Situated midway between Boston and Portland, picturesque Portsmouth features a waterfront downtown with a growing hotel market. This article serves as a primer on the market’s history, recent performance, and outlook.
Unlike other major markets in the U.S., the Twin Cities metro area has struggled to bounce back from the pandemic, negative safety perceptions, and the addition of new hotels. However, positive marketing campaigns, publicity from national sporting events, a strong convention outlook, and the potential for hosting the World Expo in 2027 should support a rebound for this lodging market.
As economy and budget hotels are nearing the end of their economic life, some properties are finding new capital for renovations from buyers seeking to convert properties to residential use. In this article, we provide a sample list of hotels that have gone through this metamorphosis.