HVS Americas Research Source | February 2021 (February 17, 2021)

Message from Rod Clough, MAI, President, HVS Americas: Watch our HVS Market Pulse Update Series 

I interviewed Kasia Russell, Managing Director and Senior Partner overseeing the U.S. Pacific Northwest region, on February 3, 2021, to discuss the current market dynamics and the outlook for recovery. Kasia provided her insights on what the market looks like today, the factors contributing to current performance levels, and what will help drive improvements in future performance. She provides her forecast of occupancy and average rate for both Portland and Seattle, as well. This short, nine-minute video provides important insights and aspects to consider for those currently invested or considering investing in this region.

If you would like to listen to Kasia's insights, click here.

Thank you for your ongoing confidence in us and we are all looking forward to a brighter year ahead for the hospitality industry.
In Partnership,

Rod Clough, MAI
President, HVS Americas

Impact of Recent Federal Stimulus on the Travel Industry 
By Thomas Hazinski and Joseph Hansel

Recent stimulus passed through the federal government will significantly impact recovery for the travel industry. Publicly funded destination marketing organizations (“DMOs”), tourism agencies, and entertainment venues will benefit from provisions of the $900 billion COVID-19 relief package. HVS explains how certain provisions of recent stimulus and President Biden’s proposed stimulus package contribute to recovery of vital sectors of the US economy.

Canadian Lodging Outlook Quarterly 2020-Q4 
By HVS Canada

2020: A year like no other in the Canadian Hotel Industry, a year to capitalize on fine tuning operations to be more efficient for when demand returns in 2021. HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets.

HVS Executive Search Update 
By Alice Sherman

HVS Executive Search has placed the Chief Diversity Officer for Hard Rock Seminole, as well as the Chief Financial Officer for High Noon Restaurant Group, a CapitalSpring portfolio company.

COVID-19’s Impact on the Portland Lodging Market 

The challenges faced by the City of Roses in 2020 were nothing short of devastating. Not only did the COVID-19 pandemic wreak havoc on the local economy, but social injustice and political demonstrations, as well as devastating fires that displaced thousands and resulted in hazardous air quality, continued to impede recovery efforts throughout the year. Moreover, the exaggerated national media attention further exacerbated conditions. Looking ahead, Portland as a city works to heal and rebuild.

COVID-19’s Impact on the Phoenix Lodging Market 
By Michael Smithson and McKenna Luke, MAI

Since early March, hotels in the greater Phoenix area have suffered unprecedented declines in demand; however, Phoenix outperformed many of the top 25 markets in 2020, with seasonality and demand segmentation playing a large role in the market’s performance last year. How will these factors and others impact 2021 and the recovery of the market?

HVS Market Pulse: Napa Valley 
By Bomie Kim and Noella Moon

Napa Valley’s resiliency and depth of demand has been illustrated year after year, even with the addition of new supply and the recent wildfires. While the Glass Fire and restrictions related to the ongoing COVID-19 pandemic affected the market in 2020, market participants remain confident in Napa Valley’s recovery from the pandemic over the long term, further indicated by developers’ and buyers’ continued interests in the market.

COVID-19’s Impact on the New Orleans Lodging Market 

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?

COVID-19’s Impact on the Houston Lodging Market 
By HVS Houston

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?

COVID-19’s Impact on the Philadelphia Lodging Market 
By Kim Conlon

The Philadelphia market has been severely affected by the COVID-19 pandemic and the related decline in travel. The magnitude of the decline has been somewhat greater than that experienced by the top 25 markets in the U.S., which is due to the impact of the pandemic on the leisure segment, particularly international tourism, as well as across the meeting and group segment. Looking ahead, Philadelphia as a city works to heal and rebuild.

COVID-19’s Impact on the Greater Gatlinburg, Tennessee Lodging Market 
By Marc Greeley

Since the onset of the COVID-19 pandemic in March 2020, the lodging industry has experienced unprecedented declines in demand. The Greater Gatlinburg market mirrored these declines in March and April – but soon after realized significant rebound in lodging and tourism demand. So, what is causing the swift recovery in Gatlinburg?

HVS Market Pulse: Buffalo, New York 
By Christian Cross

The Downtown Buffalo lodging market is almost unrecognizable from where it was just a decade ago. This article reviews how the market has changed, discusses the impact of the pandemic and related economic recession, and looks to what is next for the Nickel City.

HVS Market Pulse: The Florida Keys Lodging Market 
By Chris Cabrera

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.

INVESTMENT OPPORTUNITY - Courtyard by Marriott Laredo 

HVS, is pleased to present the opportunity to acquire the 110-key Courtyard by Marriott Laredo, a select-service hotel asset in Laredo, Texas. Despite most markets taking a hit from the COVID-19 pandemic, the Hotel’s rooms revenue was up 9% through year-to-date November 2020. Laredo is a vital trade hub along the U.S./Mexico border; the Port of Laredo is the number one inland port along the U.S./Mexico border, with over $231.5 billion in imports and exports having crossed over in 2019. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

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