Per the HVS Fall 2017 Broker Survey, completed in early October, brokers reported markets remain “hot” in Phoenix, Orlando, Atlanta, New Orleans, Boston, Baltimore/DC, New York City, and Salt Lake City. The collective opinion of average, stabilized cap rates fell slightly for luxury and upper-upscale assets, and began to turn higher for full-service, select-service, and limited-service hotels. In addition to going-in and exit cap rates, the Fall 2017 survey reports the latest broker opinions on discount rates, rooms revenue multipliers, exposure and marketing times, selling expense ratios, and liquidation effects for the U.S. hotel transactions market, as well as the sentiments from U.S. hotel brokers, among these four categories: luxury and upper-upscale hotels, full-service hotels, select-service hotels, and limited-service and economy hotels. The HVS Fall 2017 Broker Survey presents these and more results from top hotel brokers.
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Occupancy and average rate have risen to peak levels in recent years, but with significant new supply in the pipeline, can Indianapolis maintain its positive momentum?
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This market snapshot provides an overview of the recent performance of the lodging industry in Madrid, Spain, in terms of demand and supply and analyzes past and future tourism trends.
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US-based Hyatt Hotels Corporation has debuted its luxury lifestyle brand, Andaz, in Southeast Asia with the opening of Andaz Singapore. Located at the heart of the cultural crossroads in Bugis, a five-minute drive from the Central Business District, Andaz Singapore draws on elements from shophouses and alleyways in the Kampong Glam neighborhood. Housed in the new Duo Complex, a mixed-use development that comprises residences, retail spaces and offices, the 342-key hotel includes 26 suites offering spectacular views of the city. The hotel also features 14,800 square feet of meeting space, an outdoor pool, a fitness center and four F&B outlets, including a rooftop bar. Andaz Singapore is only the second Hyatt-branded hotel in Singapore, after the Grand Hyatt Singapore opened its doors in 1971.
HVS APAC HOSPITALITY NEWSLETTER.
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Hilton Worldwide’s luxury Waldorf Astoria Hotels & Resorts chain has signed a management agreement with Prime Investors Capital for a hotel in the iconic Admiralty Arch monument in London, marking the brand’s debut in the UK capital. Commissioned by King Edward VII, Admiralty Arch was completed in 1910 and Prime Investors Capital acquired a 250-year lease for the property in 2015. The building, which has served many purposes over the years, including a Royal Navy outpost and, most recently, a centre for the UK Government’s Cabinet Office, is undergoing an extensive refurbishment programme and the Admiralty Arch Waldorf Astoria is due to open in 2022. "This agreement marries the timeless elegance of Waldorf Astoria with the historic grandeur of one of London's great monuments. Projects of this calibre are rare, and Admiralty Arch Waldorf Astoria will provide a truly unforgettable hospitality experience when it opens to guests,” said Christopher J. Nassetta, Hilton’s president and chief executive officer. Hilton currently operates one hotel in the UK, the Waldorf Astoria Edinburgh – the Caledonian in Scotland.
HVS EMEA HOSPITALITY NEWSLETTER.
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