The HVI is the authoritative guide to U.S. hotel values, giving hotel stakeholders an educated edge in buying, selling, and holding opportunities. This online tool provides historical and projected values and RevPAR for the Detroit market.
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.
Why do some stadiums attract more tourists and economic impact than others? It does not have to do with the quality of a city’s music scene or attractiveness, but the availability and cost of tickets. Tickets to venues in densely populated areas with higher incomes are harder to get, so instead people travel to venues with tickets that are available, and cheaper.
As HVS associates travel nationwide and experience new hotels, or newly renovated and revitalized properties, we are seeing many owners creating innovative ways to generate revenue. This article lists just a few ways we’ve recently come across.
Philadelphia fans have an earned reputation for climbing light poles in celebration of major victories. Other fanbases throw octopi on the playing surface in celebration. Different fanbases behave differently. A statement that is acknowledged but rarely discussed in a quantitative way. Using data from Placer.ai, HVS gathered data on fan behavior before and after games for every NBA, NFL, MLB, and NHL team and aggregated them by location to enable comparison.
The Detroit lodging market continues the road to recovery, with RevPAR levels nearing pre-pandemic levels due to the ADR rebound. Improving economic conditions, multiple large-scale developments, and the continued popularity of Detroit as a leisure destination are expected to support occupancy growth throughout 2023.
The global aviation industry is experiencing severe staffing shortages, which are negatively impacting operations and traveler experience. Skill shortages are not new, but the pandemic has exacerbated them. Continue reading to learn more about how the industry is addressing these challenges.
The COVID-19 pandemic delivered a substantial blow to Detroit. However, the city had one of the lowest RevPAR declines in 2020 among the top 25 markets, with only four leisure-oriented markets performing better. Is this a sign of Detroit’s famous resiliency, or was it merely the fact that Metro Detroit had less to lose?
Hotel development in Detroit continues full steam ahead, even as multiple large-scale residential developments are scaled back due to rising construction costs. Is Downtown Detroit prepared for the next round of hotel development within the Motor City?
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.
Toledo has long lived in the shadow of its neighbor to the north, Detroit, with an economy steeped in auto manufacturing and industry. The city is known for Jeep, Jamie Farr, and Tony Packo’s, but a thriving lodging market? HVS Chicago investigates the changing dynamics.