Since March 2020, Boise hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. Which factors affected 2020 hotel performance, and what key elements are expected to influence hotels in the Treasure Valley’s capital? What will the recovery look like?
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.
What can change leaders do to overcome the resistance to change? Sheetal Singh, Ph.D. and Court Williams, CEO at HVS Executive Search address this question in their latest article in Hotel Business Review.
Hotel stakeholders shared a diversity of insights into U.S. hotel industry trends during the lifecycle of a hotel, including development, conversion/repositioning, and disposition.
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.
Job growth in the Austin-Round Rock MSA, especially with respect to highly skilled, highly educated positions, ranks among the best in the nation.
Underpinned by emblems of education, government, business, music, and history, Austin’s economy ranks among the best in the nation. New full-service hotels should lead to more convention demand, with hotel performance growth expected market-wide.
Residents and visitors have always been drawn to Austin’s rich, historic offering of music, culture, business, government, and education. The strength of Austin’s lodging industry over the past decade gives hoteliers something else to admire.
As both the capital of Texas and the “Live Music Capital of the World,” Austin has businesses and hotels singing a lively tune despite the current economic dirge.
Texas’ second-largest city is experiencing growth never before seen in its long and storied history.