Minneapolis is home to many Fortune 500 companies and more than 11,000 hotel rooms. High quality of life, diversity of employers, and leisure attractions continue to entice demand and an ensuing level of hotel development to the area.
Anchored by the Mayo Clinic, Downtown Rochester has experienced a plethora of development attributed to the $5.6-billion Destination Medical Center (DMC) initiative, which is the largest economic development initiative in Minnesota’s history.
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.
Major events and tourism boosted occupancy and average rate in the Twin Cities in 2015. Hotels stand to benefit from increased visitation in the years to come, keeping average rates and property values on the rise.
Vicki Richman attended Disney Institute. We have incorporated much of what she learned into our company. Every year we improve our company’s culture and that of our hotels. If the Walt Disney Company is any benchmark, it's clearly worth doing.
The North American hotel industry is still firing on all cylinders, with year-to-date occupancies at an all-time high. While some markets face challenges from new supply, prospects appear healthy in the near term.
This description of a sales tax audit is an opportunity to minimize potential problems with sales taxes. While focused on Minnesota much of it applies to any state with sales taxes. Do not construe this article as legal or tax advice.
Fortune 500 companies, universities, and a thriving arts and culture scene drive commercial, meeting and group, and leisure demand to Minneapolis hotels, which have experienced a solid recovery over the past two years.
The energy boom has transformed North Dakota’s hotel industry, with new assets springing up and existing hotels realizing new peaks in performance as energy-related demand rolls in. How does the capital city of Bismarck stand to benefit?