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

I interviewed Dan McCoy, Managing Director and Senior Partner overseeing the U.S. Heartland, on February 17, 2021, to discuss the current market dynamics and the outlook for recovery. Dan provides his insights on what the market looks like today, the factors contributing to current performance levels, and what will help drive improvements in future performance. He provides his forecast of occupancy and average rate for St. Louis, as well. This 16-minute video provides important insights and aspects to consider for those currently invested or considering investing in this region.

Rod Clough, MAI
President, HVS Americas

The Importance of Diversity at all Levels of the Hospitality Industry 
By Glenn Skolnick

Companies in the hospitality industry are choosing to make diversity and inclusion a priority. By doing so, their organization best represents today’s market and also helps them attract and retain the best talent in the industry. Hiring a chief diversity officer, developing an inclusivity strategy, and connecting with their varied client base can ensure that diversity is being addressed at every level and companies are successfully achieving their goals.

The Hotel Industry's Pandemic Bright Spot: The Extended-Stay Segment 
By Rod Clough, MAI and Christian Cross

Extended-stay hotels have long been the industry's answer to those seeking accommodations similar to an apartment, but without the need to sign a long-term lease. Stays can be as short as one overnight or as long as years, in rare cases, but generally trend from two weeks to a couple of months.

HVS Las Vegas Casino & Hotel Market Outlook 2021 
By Shannon Okada, MAI

The impact of the COVID-19 pandemic on the Las Vegas economy has been extremely harsh given the market’s reliance on visitation and conventions. Following five consecutive years of accommodating more than 42 million visitors, Las Vegas hosted just over 19 million people in 2020 (the lowest number of visitors since 18.1 million in 1989). Continued weak performance is anticipated through the first half of 2021.

Manhattan Lodging Overview Summary – Q4 2020 
By Chris Fernandes, Anne Lloyd-Jones, MAI, CRE and Roland deMilleret, MAI

The New York City borough of Manhattan has historically been among the strongest, most diverse, and most dynamic hotel markets in the world. Now almost one year into the COVID-19 pandemic, sustained business closures in New York City have resulted in little to no improvement in lodging performance since the pandemic began. When will New York begin to see meaningful recovery, and how long before the lodging performance returns to pre-pandemic levels?

HVS Executive Search Update 
By Alice Sherman

HVS Executive Search has placed the EVP Investments & Chief Financial Officer for HVMG (Hospitality Ventures Management Group). The hiring market has started to rebound after the events of 2020, with six new searches launched this year, including four in the hotel industry and two in the restaurant industry, and an additional nine proposals out for new business.

Market Pulse: Washington, D.C. Lodging Market 
By Chelsey Leffet

The Washington, D.C. metropolitan area hotels have been more affected by the COVID-19 pandemic than many other major markets across the United States. Will recent disruptors derail a market typically regarded as well insulated and historically poised for growth? What will the recovery look like?

HVS Market Pulse - Minneapolis-St. Paul 
By Tanya Pierson, MAI and Justin Westad

The Twin Cities hotel market has suffered a greater loss than that of the nation given the combined impact of the COVID-19 pandemic and civil unrest. Many hotels suspended operations between April and June, with little activity taking place in urban cores. How far has the market fallen, and what will the next few years look like?

HVS Market Pulse: Indianapolis, Indiana 
By Kristen Gatti

Indianapolis was expecting another record-breaking visitation year in 2020. However, the onset of the COVID-19 pandemic brought the city’s thriving convention and sports/entertainment sectors to a halt, dragging the hotel industry down with it. Fortunately, certain factors, including the continued operation of the Indianapolis Convention Center in 2020 and a promising 2021 calendar of events, are providing a good foundation for its recovery.

HVS Market Pulse: Green Bay, the Home of the Packers 
By Amy Schmidt

While Lambeau Field, the home field of the Green Bay Packers, has been around since the 1950s, the area surrounding it has undergone many transformations over the past decade given the success of the NFL team. In this article, we examine the market’s historical trends, the impact of the pandemic, and the outlook for Green Bay.

Anchorage Lodging Market: Winter 2021 Update 
By Kasia Russell, MAI and Breanna Smith, MAI

Declining oil and gas prices since 2014 have largely resulted in an economic retrogression in Alaska. Aside from the oil and gas industry, the tourism industry is one of the largest private-sector groups of employers in the state and accounts for one of every eight jobs. Therefore, the impact of the COVID-19 pandemic has been detrimental to the local economy. While the widespread availability of a vaccine has ignited hope, tourism recovery faces some obstacles in 2021.

HVS Market Pulse – Milwaukee, Wisconsin 
By Justin Westad and Amy Schmidt

Following nearly a decade of revitalization and growth, COVID-19 delivered a significant blow to Milwaukee similar to what was felt in nearby urban Midwestern cities. Despite Milwaukee’s longstanding history as a manufacturing powerhouse, as well as its strong financial and healthcare sectors, COVID-19 caused hotel demand to fall by 58% and ushered in a wave of work-from-home culture and major event cancellations. Where does Milwaukee go from here, and what was the impact of event cancellations?

COVID-19’s Impact on the Tampa-St. Petersburg Lodging Market 
By Jeffrey Pennington

Starting mid-March 2020, hotels in the greater Tampa-St. Petersburg area faced record declines in demand, similar to many major markets in the United States, because of the COVID-19 pandemic. Nevertheless, the Tampa-St. Petersburg market ended 2020 with the highest average occupancy of any of STR’s top 25 U.S. travel markets. What was the impact for local hotels in the greater metropolitan area? What will the recovery look like for the market?

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.

INVESTMENT OPPORTUNITY - Howard Johnson by Wyndham Beaumont 

HVS, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the 118-key Howard Johnson by Wyndham Beaumont, a limited-service asset located in the burgeoning market of Beaumont, Texas. This opportunity presents a blank slate for a new owner/operator to restructure the hotel’s operations, improve the bottom-line cash flows, and capitalize from $54-billion petrochemical expansion projects in the Beaumont/Port Arthur area over the next ten years. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

INVESTMENT OPPORTUNITY - Hampton Inn & Suites Houston-Westchase 

HVS is pleased to present the opportunity to acquire the 82-key Hampton Inn & Suites Houston-Westchase, a limited-service asset located in the historically strong Houston Westchase submarket. The owner-operated Hotel is currently underperforming the market; the Property is being sold unencumbered by management. A new investor will be able to “turnaround” operations by improving yield-management strategies, revitalizing sales and marketing initiatives, completing the PIP, and recapturing its competitive advantage. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

INVESTMENT OPPORTUNITY - TownePlace Suites by Marriott Dallas-McKinney 

HVS is pleased to present the opportunity to acquire the 88-key TownePlace Suites by Marriott Dallas McKinney, a limited-service, extended-stay asset located in the historically strong city of McKinney, 30 miles north of Downtown Dallas. A new investor will have the opportunity to realize the significant upside of acquiring an underperforming asset significantly below replacement cost. The investor will be able to “turn around” operations by improving yield-management strategies, revitalizing sales/marketing initiatives, and recapturing its competitive advantage. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

INVESTMENT OPPORTUNITY - TownePlace Suites by Marriott New Orleans Harvey-West Bank 

HVS is pleased to present the opportunity to acquire the 96-room TownePlace Suites by Marriott New Orleans Harvey/West Bank, a limited-service, extended-stay asset located in Harvey, Louisiana, situated just five miles south of Downtown New Orleans. The Hotel is being sold unencumbered of management. The investor will be able to turn around operations by improving yield-management strategies, revitalizing sales and marketing initiatives, and recapturing the Hotel’s competitive advantage. This favorably positions the Hotel to capitalize on the rebound of the tourism and hospitality industry in New Orleans. Please visit our listings or contact Eric Guerrero, James Rebullida, or Fadi Rawashdeh for more information.

HVS Speaker Alert 

• Rod Clough at Global Corporate Lodging Forum 2021 CLF - Americas on Tuesday, March 23, 2021 at 12:00 pm, Eastern Time.
• Carrie Russell at Canadian Hotel Market Webinar – 365 Days Later on Wednesday, Marce 31, 2021 at 1:00 pm, Eastern Time.
• Richard Katzman and Lorea Arnoldi at HVS MexHIC Webinar - Perspectives and Trends in the Hotel Industry on Thrusday, April 8, 2021 from 11:00 am to 1:00 pm, Mexico City Time.
• Luigi Major at ULI NEXT Council State of Hospitality Program on Thursday, April 15, 2021. Stay tuned for registration page and more details.
• Caribbean Hotel Investment Conference and Operations Summit (CHICOS 2021) on November 10-12, 2021 at the Grand Hyatt Baha Mar, in Nassau Bahamas.

HVS in the News 

• New Round of PPP Loans Provides Hoteliers Relief, Frustration
• Postponed by Pandemic, Milwaukee's Wisconsin Center Expansion is Back on the Schedule
• After the Pandemic, an Expanded Monona Terrace Could Deliver an Economic Boost
• The Alloy Reveals Elevated Transformation
• Hotel Recovery Will Be Slow and Painful
• NYC Tourism Comeback Continues
• Federal Stimulus Speeds Recovery
• ‘The Hump Of Darkness’ Has Passed, But NYC's Hotels Are Particularly Far From The Light
• Postponed by Pandemic, Milwaukee's Wisconsin Center Expansion is Back on the Schedule
• A Year on the Dirty Boulevard
• Flocking to the Smokies