8 results
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The diverse array of employers throughout the Columbus region has contributed to the growth of the local economy post-pandemic. This economic growth has bolstered the local hospitality market with expectation of continued growth in the near term.
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Cincinnati’s workforce is set to return to pre-recessionary proportions by 2014, making the city’s economic recovery among the fastest in the Midwest. Cincinnati’s hotel industry has realized slower growth, though demand and ADR are trending upward.
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Unemployment and office vacancy has been dropping in Columbus, the state capital and a major center for financial and healthcare services in Ohio. Hotel occupancy hit a record high in 2012, and average rates are gaining ground.
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Nearly 500 hotel owners, lenders, brokers, and developers joined with other hotel experts from HVS and major brands to discuss current and future trends in the U.S. hotel industry.
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Military installations—some expanded, others diminished—in Georgia, South Carolina, and North Carolina are impacting hotel demand and average rates.
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A mix of cultural and commercial projects continues to steer businesspeople, tourists, and conventioneers toward Cincinnati, giving area hoteliers some hope in the tough economy.
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Hoteliers stand to reap the benefits of this capital city’s revitalization, especially downtown.
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The Franklin County Convention Facilities Authority retained HVS International to analyze the feasibility of developing additional full-service convention hotel capacity in downtown Columbus, in the immediate vicinity of the Greater Columbus Conventi