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39 results

HVS Market Pulse: Greater Phoenix, AZ

Phoenix is undergoing economic expansion after extended post-recession recovery. Hotel-performance growth continues despite post-Super Bowl ADR correction and a large new supply pipeline; however, supply growth will soon overtake increases in demand.

HVS Market Pulse: Tucson, AZ

While Tucson may be overshadowed by Phoenix, the market is making strides in its own right. New supply remains at healthy levels and is not expected to negatively affect performance for the greater market.

HVS Market Pulse: Lubbock, Texas

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 Focus: Niagara Falls Area, Ontario, Canada

The Niagara Falls, ON, region is seeing another record-breaking year in RevPAR growth. The rise in occupancy and average daily rate is expected to continue with the persistence of the weak Canadian dollar and the rise in US/international travellers.

In Focus: Chicago, IL

Demand from a variety of sources has risen in Chicago, pushing occupancy to a ten-year high in 2015. More than 6,000 new rooms are expected in the market over the next three years, though average rates and hotel values should continue to grow.

In Focus: New Orleans, LA

With increased tourism and expansions at the convention center and airport, New Orleans’ hotel industry continues to make gains. The bulk of new supply should hit in 2017, before demand again outpaces supply in time for the city’s 300th anniversary.

In Focus: Phoenix, AZ

Phoenix’s growth in 2015 reflects the hopes of hotel developers and owners in the market, as performance closes in on pre-recession levels.

In Focus: Houston, TX

Thanks to energy-driven demand, Houston achieved record occupancy levels in 2014. The recent fall of oil and gas prices and more than 5,000 new rooms on the horizon poses a challenge to market-wide occupancy, though average rates continue to climb.

In Focus: Boston, MA

Commercial, leisure, and meeting and group demand has risen in the Boston market over the past two years, resulting in near-record occupancy levels for hotels. Though new supply is set to arrive over the next 2 years, demand is expected to hold pace.

3 Hot Topics Presented at the HOLA Investment Conference 2015

This article provides critical insights and opportunities shared at the Hotel Opportunities Latin America (HOLA) Conference in Miami with expressions of optimism, particularly for Cuba.