Publications & Events

Snapshot of the Venice hotel market performance in 2023, exploring airport arrivals, tourism demand, hotel KPIs, future supply, recent transactions and future outlook.

Jonathan Nehmer + Associates, Inc. (nehmer) and HVS Design, leading Architecture, Interior Design, and Project Management firms specializing in the hospitality industry, are proud to announce the release of the 2024 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations.

Now in its 16th year, the 2024 Hotel Cost Estimating Guide evaluates costs in a variety of hotel tiers including Economy, Extended Stay, Midscale, Upscale, Upper Upscale, and Luxury. Within each tier, costs are separated into the categories of Guestrooms, Guest Bathrooms, Guestroom Corridors, Public Areas, Food & Beverage Outlets, Function Space, Recreational Facilities, Infrastructure, and Common Additives.

The 2024 Hotel Cost Estimating Guide also features estimated percentages for freight and warehousing for each tier along with contributing cost variables. The Guide includes sample schedules for select service renovations (both prototype and custom) and for a full-service renovation.

The following firms contributed unit cost data to the 2024 Hotel Cost Estimating Guide: Audit Logistics, Benjamin West, Humphrey Rich, Ironstar Construction Inc., POK Construction, and Reliance Construction Company.

The Hotel Cost Estimating Guide is available as a complimentary download at www.hotelcostestimatingguide.com.

The hotel transaction market continues to face significant headwinds. Nonetheless, there are still many good deals to be had, and with some patience and strategy, long-term returns may match or even exceed an investor’s expectations. This article examines and compares current transaction data to historical activity.

This report highlights the key trends in the Indian hospitality industry in 2023 along with the sector performance metrics, brand signings, and brand openings during the year. It also provides our outlook for the sector for 2024.

In the ever-evolving hospitality industry, the question of how to effectively compensate hotel operators remains crucial. While the basic premise of paying managers for their management skills holds true, the prevalent incentive fee structures may no longer adequately align with market realities, particularly for owners.

HVS discusses the main hotel transactions that took place in 2023 and looks at the trends in single-asset and portfolio transactions over the years.

Since 2022, hospitality has seen a 30% increase in CFO turnover and a significant demand for financial executives. This trend, driven by post-COVID-19 burnout, remote work popularity and high inflation, reflects broader economic phenomena. High CFO turnover disrupts strategic initiatives, even while introducing fresh outlooks and innovation. Companies must balance retaining experienced leadership with embracing new ideas and fostering an adaptable culture to ensure resilience and sustainability.

The Atlanta Marriott Marquis was bustling this week with another successful Hunter Hotel Investment Conference. Kudos to the Hunter and Marriott teams for executing an extraordinary event! Some key takeaways from the HVS brokerage and consulting staff members who attended the conference are summarized in this article.

This article examines Florence's tourism industry resilience amidst crises, including the COVID-19 pandemic, analyzing key performance indicators such as airport statistics, hotel supply, and operating performance. Despite setbacks, Florence witnessed a remarkable recovery, notably in 2023, with record-breaking Revenue Per Available Room (RevPAR). The analysis also highlights investment trends and future challenges, including concerns about over-tourism and evolving market dynamics.

The COVID-19 pandemic accelerated hospitality’s shift towards remote work, challenging the sector to adapt roles for remote environments, ranging from customer service to event planning. While remote work offers advantages for both employers and employees, it also presents multiple challenges for them. Companies must balance attracting younger talent with the limitations of remote work, identify roles suitable for remote settings, and invest in the infrastructure necessary to support this model.