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Articles by Amy Schmidt
HVS Market Report - Charleston, SC: Making & Preserving History - By Courtney Vris Original
Europeans first settled in the city that would become Charleston over 350 years ago. Charleston’s rich history is one of the drivers of its thriving tourism sector, which tallied 7.68 million visitors in 2022. In the hospitality industry, Charleston continues to make history, while local initiatives are also making strides to preserve it.
HVS Canadian Lodging Outlook - 3rd Quarter 2023 Original
HVS and STR provide a 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. If you would like detailed hotel performance data for all of Canada, STR offers the Canadian Hotel Review, which is available by annual subscription. For further information, please contact: info@str.com or +1 (615) 824-8664 ext. 3504.
La Quinta Inn & Suites by Wyndham Texas City I-45 in Texas City, Texas Listed for Sale
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, presents the opportunity to acquire the 86-key La Quinta Inn & Suites by Wyndham Texas City I-45, a limited-service hotel asset in Texas City, Texas. A more “hands-on” investor will have the ability to realize the significant upside of acquiring a recently built asset with operational upside at a price well below replacement cost.
Comfort Suites Near the Galleria in Houston, TX Listed for Sale
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, presents the opportunity to acquire the 61-key Comfort Suites Near The Galleria, a limited-service hotel asset located in the historically strong Galleria/Uptown District submarket. This offering presents an excellent opportunity for a more "hands-on" owner/operator to acquire an underperforming asset with operational upside at a price well below replacement cost.
Unlocking the Potential of the Extended-stay Hotel Segment in India - By Akash Datta, Dipti Mohan and Dhwani Gupta
Extended-stay hotels are one of the fastest growing segments globally, but it remains a relatively niche offering in India. Read on to know more. Extended-stay hotels are witnessing increasing popularity worldwide. As per industry reports, the global extended-stay hotels market was valued at approximately USD 50 billion in 2022 and is projected to reach USD 166.5 billion by 2033, growing at a compound annual growth rate (CAGR) of over 11% during this period.
Indianapolis Gears Up for Convention and Hotel Expansions - By Amy Schmidt and Trey Osadchey
With the pandemic mostly in the past, Downtown Indianapoliss ADR has fully recovered, but occupancy still has not returned to 2019 levels given the slow rebound of corporate demand. However, leisure demand has increased, and the citys event pipeline is robust, supporting a positive outlook for Downtown Indianapolis.
HVS Market Report - Anchorage, Alaska: Hotel Market Trends and Conversions to Housing - By Breanna S. Smith Original
While Anchorage was significantly affected by the pandemic, a surge of independent travelers boosted the economy in 2021. More robust growth occurred in 2022 with the return of normal demand sources. Furthermore, the conversion of hotels to permanent housing has reduced the hotel supply in Anchorage and contributes to recent trends. Prior to the pandemic, the Anchorage hospitality market was in a period of expansion. The market was historically reliant on natural resource (oil and gas) extraction.
HVS Marlet Report - Tucson's Hotel Industry: Recovered and Evolving - By Zabada N. Abouelhana Original
The state of Arizona, including Tucson, recovered quickly from the COVID-19 pandemic. Hotel performance in Tucson has far exceeded pre-pandemic levels, primarily given ADR gains since 2020. In this article, we discuss the current state of Tucsons hospitality industry, meeting and group demand factors, and investment interest in the market.
HVS India - Is It Time to Adopt a Fresh Perspective on Hotel Banquets? - By Mandeep S Lamba, Dipti Mohan and Dhwani Gupta
Hotels have an edge over independent banquet halls when it comes to holding events because of their superior infrastructure, safety standards and brand image. However, with the evolving guest preferences and technological advances, it's time for hotels to throw out the old playbook and approach banquets with a fresh perspective, welcoming a new era of hospitality. Read on to know more.
HVS Report - The Timeshare Industry Fully Recovered in 2022 - By Gary L Johnson
3 minute read HVS August, 3 2023 This article provides a summary of the current state of the timeshare industry, as well as the outlook in the current environment. We also highlight the benefits of timeshare resort ownership. Lastly, we describe the opportunities for entering this industry. In June 2023, ARDA International Foundation (AIF) announced that timeshare sales in calendar 2022 increased by 30%, from $8.1 billion in 2021 to $10.5 billion in 2022.
HVS Europe Hotel Transactions Bulletin Week Ending 28 July 2023
A summary of European hotel transactions provided by HVS KSL Capital Partners acquires a majority stake in Sereno Hotels US private equity firm KSL Capital Partners has acquired a majority stake in Italian luxury hotel group Sereno Hotels. The deal includes two hotels, the seasonal five star, 40-room il Sereno Hotel on Lake Como, Italy, and the five-star, 39-room Le Sereno Hotel on the Caribbean island of St. Barthelemy (St. Barts).
Uber Aims to Be Wider Travel App As It Turns First Profit - BBC
Excerpt from BBC The ride-hailing company, famous for upending the global taxi business, wants to do the same for holiday travel, by expanding the services available on its app. Boss Dara Khosrowshahi discussed his ambitions to make Uber a go-to travel platform as the firm reported its first-ever global operating profit. The milestone came as a record number of Uber trips were taken this spring.
Milwaukee's Rebounding Lodging Industry and Future Economic Growth - By Amy Schmidt
3 minute read HVS August, 2 2023 Following the impacts of the COVID-19 pandemic, Milwaukee is positioning itself as a sought-after destination for major events and continued economic growth. With a strong lineup of events, including the Republic National Convention in 2024, and ongoing developments in the city, Milwaukee's hotel market is set for a prosperous future.
Hotel Conversions to Residential Use Heat Up - By Rod Clough and Koby Kearney
As economy and budget hotels are nearing the end of their economic life, some properties are finding new capital for renovations from buyers seeking to convert properties to residential use. In this article, we provide a sample list of hotels that have gone through this metamorphosis. As economy and budget hotels are nearing the end of their economic life, some properties are finding new capital for renovations from buyers seeking to convert properties to residential use.
HVS Market Report - Nashville Q2 2023 Lodging Update - By Marc Greeley Original
3 minute read HVS April, 14 2023 This article provides an update on the state of Nashvilles lodging market as of April 2023. Nashville hotels recovered substantially over the last twelve months, as corporate and meeting and group demand bounced back in 2022 following slower growth in the year prior.
Baymont by Wyndham Texarkana, Arkansas for Sale
HVS Brokerage & Advisory, in cooperation with Jennifer Stein Real Estate Inc., as the sole and exclusive advisory firm to ownership, presents the opportunity to acquire the Baymont by Wyndham Texarkana, a limited-service hotel asset in Texarkana, Arkansas. The property benefits from its prime location in Texarkana, at the crossroads of Interstate 30 and U.S. Highway 59/71, situated near the thriving downtown area and key commercial corridors.
HVS Market Report - Los Angeles: A Look at the Future of the Hotel Market - By Kirsten Z. Smiley and Aidan Martin
Los Angeles, the entertainment capital of the world, boasts a thriving tourism industry that draws millions of visitors every year. In this article, we will pinpoint the trends, innovations, upcoming events, and challenges that are shaping the future of the Los Angeles hotel industry. In 2022, the Los Angeles market showed a significant rebound, as ADR well exceeded 2019 levels, although occupancy still trailed pre-pandemic levels.
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