The Coachella Valley is known for its signature events, including the Coachella Valley Music & Arts Festival. With major events canceled in 2020, how did the market perform? What’s the road for recovery?
At the 2019 Phoenix Lodging Conference, the HVS Team heard muted optimism and a view that growth in the next 24 months may vary widely across markets. We would encourage owners to investigate the sometimes overlooked top 50 MSAs that still could experience value appreciation in those 24 months.
HVS C&V leaders offer the pulse of their markets heading into the fall season. Out of 23 markets discussed, ten are rated as hot, nine are rated as mild, and the remaining four are rated as cooling.
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.
Hotel assets continued to appreciate in 2016, but at a more modest pace due to slowing RevPAR growth and a rise in cap rates. The stock market rally following the election has led to cautious optimism about what 2017 will bring.
Phoenix’s growth in 2015 reflects the hopes of hotel developers and owners in the market, as performance closes in on pre-recession levels.
Wildfires ravaged lives and infrastructure on the northwest of Colorado Springs, setting off a scramble for hotel rooms. As the city rebuilds, major projects—including multimillion-dollar hotel renovations—aim to put the local economy back on track.
The recovery of gaming, hotels, and tourism in Biloxi continues following Hurricane Katrina. How will these industries fare in the face of a national economic storm?
Unemployment rates are surging, global stock markets are crashing, commodities are collapsing, and the real estate bubble has finally burst. What moves can hotel developers make during the downturn?
This article articulates a framework for recovery of the tourism industry from the shadow of terrorism through a three-pronged strategy: safety, image change and domestic tourism promotion.