Three U.S. major professional sports teams—the Vegas Golden Knights of the National Hockey League, Las Vegas Aces of the Women’s National Basketball Association, and Las Vegas Raiders of the National Football League—are based in Las Vegas. The importance of sporting events for the Las Vegas market extends beyond serving as the home for these professional teams. The return of sports will contribute to Las Vegas’ eventual recovery from the impact of the COVID-19 pandemic.
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.
The Houston lodging market has experienced significant fluctuations in recent years, driven by increases in supply, an energy recession, a Super Bowl, two MLB post-season runs, and one of the costliest natural disasters of all time. In this article, we look at where we go from here.
Both the hotel landscapes in North and South Arlington continue to evolve as the city remains an entertainment capital of the state and as new commercial development helps spur new hotel construction.
The greater Dallas area continues to be a focal point of corporate relocation and expansion, and a building boom is evident in both the urban core and outlying suburbs, with hotel construction on the rise.
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.
Chicago continues to attract hotel development to the downtown market, thanks to its proximity to global transportation and well-educated workforce. The installation of Chicago’s 60th crane in 2017 suggests that development is still robust.
Fort Worth continues to experience a growth boom as the development landscape in both the urban and suburban submarkets evolves. How will an influx of proposed hotel supply affect the city’s downtown and outlying submarkets?
Government and private revitalization efforts loom large in Lubbock, with more than a dozen new hotels scheduled to arrive by 2020. Major redevelopment projects promise to drive the demand for lodging, although full absorption may take several years.
In this article we explore how companies in the hospitality industry are attracting and retaining talent by creating a progressive culture and evolved workspace.