The increase of new supply across the United States, the aging condition of limited-service hotels, and an inconsistency of quality across branded hotels has required franchisors to create and implement new design standards.
In response to rising demand for unique designs, developers are turning to adaptive reuse as a means of creating one-of-a-kind hotels. Historic building conversions come with their own sets of challenges, balanced by potential rewards.
Demand from a variety of sources has risen in Chicago, pushing occupancy to a ten-year high in 2015. More than 6,000 new rooms are expected in the market over the next three years, though average rates and hotel values should continue to grow.
Though on the verge of an influx of new hotel supply, demand in Hampton Roads has risen in recent years, improving occupancy and allowing hoteliers to command better rates.
Room service should be more than just food delivery. This article has reminders for full service hotels and ideas for limited service hotels.
Denver’s hotel industry is leading the nation in development trends and overall performance. Experts at the annual lodging conference, Colorado’s biggest, also shared insights on ski resort markets in the state.
Tourism remains a cornerstone for Charleston, with Condé Nast readers ranking the city the top destination in the U.S. and the world. Other developments across the range of Charleston’s economy are also driving hotel demand and average rates.
Energy exploration in the Fort Worth Basin is revving up the region’s economy and generating demand for hotels in the Metroplex. Will recent growth in Fort Worth’s energy, commercial, and leisure sectors continue over the long term?
Metro Denver’s economy is set to outperform the nation’s this year, and conventions in the city are on the rise. Hotel RevPAR in 2012 surpassed Denver’s pre-recession high, and healthy demand levels are pushing the pace of hotel transactions.
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.