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 New Orleans market.
The pandemic’s prolonged impact on the New Orleans hospitality market exacerbated a slow period in the convention cycle. However, New Orleans remains a popular leisure destination, with new upscale hotel supply and renovations to demand generators. Market participants are confident that demand growth in 2024 and 2025 will help the city recover to its pre-pandemic metrics.
The Mississippi Gulf Coast reopened faster than most markets in the Southeast, allowing this area to become a drive-to destination for leisure travel. While the record room-rate increases achieved in 2021 and 2022 may not continue, new properties and attractions along the coast should support the market’s popularity going forward.
After Mardi Gras, hotels in the greater New Orleans area faced record declines in demand, similar to many major markets in the United States because of the COVID-19 pandemic. What has been the initial impact? How does this compare to historical declines in the city’s hospitality industry? What will the recovery look like?
Nevada began its emergence from the COVID-19 pandemic shutdown on May 9, 2020, after Nevada’s Governor Steve Sisolak authorized certain businesses, including restaurants and retail establishments, to reopen with limitations. Nevada’s casinos were allowed to reopen on June 4, 2020, with restrictions. This article provides an update of the status of the Las Vegas market since Nevada’s casinos were allowed to reopen.
Governor Sisolak authorized certain businesses, including restaurants, barbershops, hair salons, and most retail businesses, to reopen with limitations beginning May 9, 2020, and Nevada began its emergence from the pandemic shutdown. Nevada’s casinos were allowed to reopen on June 4, 2020, with restrictions. While the pandemic is far from over, this article examines some of the differences observed in casinos in the Las Vegas market since reopening and what has been learned thus far.
HVS C&V leaders offer the pulse of their markets heading into the fall season. Out of 23 markets discussed, ten are rated as hot, nine are rated as mild, and the remaining four are rated as cooling.
The Quarterly HVS Industry Statistics Update shows key economic metrics that relate to the hotel industry’s recent performance and near-term forecast.
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.
Activity in medicine, technology, conventions, and tourism brought near-record visitation to New Orleans over the past year. Major developments, ranging from infrastructure to new business and cultural districts, continue to drive hotel demand.
Energy prices, strong for the past several years and rising in 2012, have driven impressive growth in jobs, commercial space, and other developments in Houston. This growth and major planned projects continue to pump hotel demand into the city.