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 Houston market.
Hotels in the Houston area faced a significant RevPAR decline in 2020, and at the beginning of 2023, the market is again contending with uncertainty surrounding rising inflation, risk of a potential economic slowdown, and volatility in its largest industry. In this article, we take a look at Greater Houston lodging recovery thus far and the outlook for the future.
Similar to other urban lodging markets across the country, the onset of the COVID-19 pandemic wreaked havoc on Nashville’s thriving hotel and tourism industry. With the widely available vaccines and the lifting of pandemic restrictions, we look back at the effects of the pandemic in 2020, Nashville’s burgeoning recovery in 2021, and the long-term outlook for the Music City.
The COVID-19 global pandemic has significantly impacted lodging markets across the country; however, each submarket has been affected differently, which has largely depended on the supply and demand forces of that submarket. As a renowned leisure destination that has weathered economic downturns and natural/ecological disasters in the past, the Florida Keys has proven to be resilient, and this recovery should be no different.
Since early March 2020, the greater Houston area hotels have suffered unprecedented declines in demand, similar to most cities in the United States, because of the COVID-19 pandemic. How far has the Houston hotel market fallen? How does this compare to the last recession? What will the recovery look like?
The COVID-19 pandemic and resulting restrictions on domestic and international travel, economic activity, and individual movement are having an unprecedented impact on the lodging and tourism industry in Latin America. While government authorities across the region work to manage restrictions and phased reopening plans, uncertainty prevails over the duration of the global pandemic.
During the execution of numerous transactions during 2019, the HVS Brokerage & Advisory team has fielded a myriad of questions from buyer groups about the impact of needed PIPs on asset prices. We are seeing increased variability in PIPs. Thus, a buyer group’s estimate is of paramount importance.
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.
Celebrating its 30th anniversary, the Asian American Hotel Owners Association (AAHOA) convention welcomed nearly 9,000 attendees in its most widely attended event in history. Reportedly, one out of every two hotels in the United States is owned by members of this important association.
For 2017, the highest RevPAR growth is anticipated for markets such as Sacramento, Washington D.C., Tucson, Chicago, Salt Lake City, Albuquerque, Houston, and Nashville, per the ALIS presentations.
Thanks to energy-driven demand, Houston achieved record occupancy levels in 2014. The recent fall of oil and gas prices and more than 5,000 new rooms on the horizon poses a challenge to market-wide occupancy, though average rates continue to climb.