Extended-stay hotels have long been the industry's answer to those seeking accommodations similar to an apartment, but without the need to sign a long-term lease. Stays can be as short as one overnight or as long as years, in rare cases, but generally trend from two weeks to a couple of months.
Rod Clough, President – Americas, interviewed Dan McCoy, Managing Director and Senior Partner overseeing the U.S. Heartland region, on February 17, 2021, to discuss the current market dynamics and the outlook for recovery.
Indianapolis was expecting another record-breaking visitation year in 2020. However, the onset of the COVID-19 pandemic brought the city’s thriving convention and sports/entertainment sectors to a halt, dragging the hotel industry down with it. Fortunately, certain factors, including the continued operation of the Indianapolis Convention Center in 2020 and a promising 2021 calendar of events, are providing a good foundation for its recovery.
While Lambeau Field, the home field of the Green Bay Packers, has been around since the 1950s, the area surrounding it has undergone many transformations over the past decade given the success of the NFL team. In this article, we examine the market’s historical trends, the impact of the pandemic, and the outlook for Green Bay.
The Twin Cities hotel market has suffered a greater loss than that of the nation given the combined impact of the COVID-19 pandemic and civil unrest. Many hotels suspended operations between April and June, with little activity taking place in urban cores. How far has the market fallen, and what will the next few years look like?
Recent stimulus passed through the federal government will significantly impact recovery for the travel industry. Publicly funded destination marketing organizations (“DMOs”), tourism agencies, and entertainment venues will benefit from provisions of the $900 billion COVID-19 relief package. HVS explains how certain provisions of recent stimulus and President Biden’s proposed stimulus package contribute to recovery of vital sectors of the US economy.
The COVID-19 global pandemic has significantly impacted lodging markets across the country; however, each submarket has been affected differently, which has largely depended on the supply and demand forces of that submarket. As a renowned leisure destination that has weathered economic downturns and natural/ecological disasters in the past, the Florida Keys has proven to be resilient, and this recovery should be no different.
Rod Clough, President – Americas, interviewed Kasia Russell, Managing Director and Senior Partner overseeing the U.S. Pacific Northwest region, on February 3, 2021, to discuss the current market dynamics and the outlook for recovery.
After Mardi Gras, hotels in the greater New Orleans area faced record declines in demand, similar to many major markets in the United States because of the COVID-19 pandemic. What has been the initial impact? How does this compare to historical declines in the city’s hospitality industry? What will the recovery look like?
The Philadelphia market has been severely affected by the COVID-19 pandemic and the related decline in travel. The magnitude of the decline has been somewhat greater than that experienced by the top 25 markets in the U.S., which is due to the impact of the pandemic on the leisure segment, particularly international tourism, as well as across the meeting and group segment. Looking ahead, Philadelphia as a city works to heal and rebuild.