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Articles by Shaffer Patrick
HVS Hodges Ward Elliott Launches Debt Advisory Business
1 minute read HVS May, 4 2023 HVS Hodges Ward Elliott (HVSHWE) has announced that Tim Barbrook has joined as head of Debt Advisory, launching the firm’s hotel & leisure debt advisory capabilities across the UK and Europe. The division will provide clients with access to the most efficient capital, advise on structure and provide transaction execution support.
The Transformation of Business Event Travel - By Thomas A. Hazinski
This paper presents findings from a survey of business event participants conducted in February and March of 2023. The survey aims to explore changes in the frequency of travel, motivations for travel, and changes in travel behaviors. Results show promising growth in 2023 and that the desire to network with peers and destination appeal are the strongest factors influencing decisions to travel to business events.
2022 European Hotel Transactions
Introduction The post-COVID era was expected to have been a story of strong recovery in the hotel investment market. However, the Russian invasion of Ukraine in February 2022, which fueled huge increases in energy and food prices, overall inflation and therefore interest rates, resulted in a mixed picture for hotel transactions for the year. Although still reaching €13.3 billion, total volume in 2022 fell short of 2021 by 18%, with 37 fewer transactions.
Kimpton Hotel Theta to Open 2023 in New York City's Theater District
2 minute read Kimpton Hotels & Restaurants April, 28 2023 Kimpton Hotels & Restaurants announced today it will open a new boutique hotel in New York City, marking the brand's second in the market. Set to open in fall 2023, Kimpton Hotel Theta will serve as an oasis for business and leisure guests seeking respite in the heart of the city's Theater District. Designed to serve as a gateway to quintessential New York, Kimpton Hotel Theta will offer a sense of retreat in every environment.
HVS Report - 2022 European Hotel Transactions - By Shaffer Patrick, Matthias Hecht and Serena Yang
HVS discusses the main hotel transactions that took place in 2022 and looks at the trends in single-asset and portfolio transactions over the years. Introduction The post-COVID era was expected to have been a story of strong recovery in the hotel investment market. However, the Russian invasion of Ukraine in February 2022, which fueled huge increases in energy and food prices, overall inflation and therefore interest rates, resulted in a mixed picture for hotel transactions for the year.
HVS Report - Dallas Hotel Development: A Success Story Amid the Pandemic Recovery - By Kathleen D. Donahue Original
Everything is bigger in Texas, even the post-pandemic recovery. Hotel metrics are showing strong improvements, and convention demand should be further bolstered in the future by a new convention facility. As a result, new hotel construction is again vibrant across the Metroplex after a temporary slowdown during the pandemic.
2022 European Hotel Transactions
Introduction The post-COVID era was expected to have been a story of strong recovery in the hotel investment market. However, the Russian invasion of Ukraine in February 2022, which fueled huge increases in energy and food prices, overall inflation and therefore interest rates, resulted in a mixed picture for hotel transactions for the year. Although still reaching €13.3 billion, total volume in 2022 fell short of 2021 by 18%, with 37 fewer transactions.
HVS Market Report - Kansas City Flourishing Demand Generators Bolster Hotel Interest - By Daniel P. McCoy and Benjamin Giebler Original
The Kansas City hotel market has rebounded following the impacts of the COVID-19 pandemic, and high levels of leisure demand and the return of convention activity have driven the recovery. Despite rising construction costs, a number of hotel developments are proposed in Kansas City, signaling an optimistic outlook for the market.
Can Hotel ADRs Overcome High Inflation? : 4Hoteliers
We have asked the questions: can rising costs be passed along to the consumer and what does the current inflation environment say about hotel pricing over the next few years? We have used London as a case study to understand the relationship between inflation and hotel ADRs (average daily rates).
Quality Hotel Americana Nogales, Arizona Sold
HVS Brokerage & Advisory announces the sale of the 97-key Quality Hotel Americana Nogales, located at 639 North Grand Avenue, Nogales, Arizona 85621. The property was sold via an online auction on Ten-X. It was purchased by Nogales Hospitality LLC of Nogales, Arizona, from Lok Group of Companies of Petaluma, California. Cindy Lok, President of Lok Group of Companies, commented, “We selected the HVS team, led by Eric Guerrero, to represent and guide our sale.
Can Hotel ADRs Overcome High Inflation?
Many global economies are going through a period of high inflation, brought on by macroeconomic factors such as government stimulus and global supply shocks. We have asked the questions: can rising costs be passed along to the consumer and what does the current inflation environment say about hotel pricing over the next few years? We have used London as a case study to understand the relationship between inflation and hotel ADRs (average daily rates).
Can Hotel ADRs Overcome High Inflation?
By Shaffer Patrick, Sophie Perret Many global economies are going through a period of high inflation, brought on by macroeconomic factors such as government stimulus and global supply shocks. We have asked the questions: can rising costs be passed along to the consumer and what does the current inflation environment say about hotel pricing over the next few years? We have used London as a case study to understand the relationship between inflation and hotel ADRs (average daily rates).
HVS Asia Pacific Hospitality Newsletter - Week Ending 18 November 2022
Weekly Hotel Industry Asia Pacific News Roundup from HVS Redhill Hospitality has Acquired Best Western Henry Parkes Motel Redhill Hospitality ("RH") has acquired Best Western Henry Parkes Motel at AUD4 million dollars. Located in Tenterfield, the 33-key property sits on a 7,606 square meters freehold land parcel that features a 55-seat restaurant and function and event space. The asset is situated along the New England Highway, which connects Brisbane to Sydney.
Hotel Spas Rewriting the Narrative - By Mandeep S Lamba and Dipti Mohan
3 minute read HVS November, 28 2022 With evolving consumer behavior and preferences, spas can no longer solely focus on traditional beauty treatments and luxurious massages that promote relaxation. Hotel chains and owners must rewrite the narrative around spa services. Read on to know more. Spas have become a standard amenity at most hotels in recent decades, with several hotel chains placing a strong emphasis on offering top-notch spa facilities to guests.
HVS Report - Can Hotel ADRs Overcome High Inflation? - By Shaffer Patrick and Matthias Hecht
This report looks at the evolution of UK inflation over the last 50 years and discusses how ADR in London hotels has responded. Many global economies are going through a period of high inflation, brought on by macroeconomic factors such as government stimulus and global supply shocks. We have asked the questions: can rising costs be passed along to the consumer and what does the current inflation environment say about hotel pricing over the next few years?
Can Hotel ADRs Overcome High Inflation?
Many global economies are going through a period of high inflation, brought on by macroeconomic factors such as government stimulus and global supply shocks. We have asked the questions: can rising costs be passed along to the consumer and what does the current inflation environment say about hotel pricing over the next few years? We have used London as a case study to understand the relationship between inflation and hotel ADRs (average daily rates).
REITs and Commercial Real Estate Well Placed for Longer Term Despite Recent Volatility
JLL 7 min read18 July 2022 Coming off of one of the strongest years on record, the REIT market is relatively well placed despite the recent volatility. JLL’s Strategic Transactions Monitor details themes driving the REIT market, including a constructive outlook in light of sharply rising rates, an increase in take-private activity and dissipating COVID-19 driven trends.
What can we learn about digital transformation from the 2022 Hotel Distribution Study
In many sectors there is a concern that the digital transformation is leading to more concentrated markets. Economies of scale and scope are said to favor the big over the small, with digital gatekeepers monopolizing access to consumers. When it comes to European hotel sales, the opposite holds true. It’s the small and medium-sized businesses — from family-run bed-and-breakfasts to inner city boutique hotels — that are the leaders in a diverse and fragmented market.
HVS India - Soft Brands - the New Norm in the Indian Hotel Sector? By Mandeep S Lamba and Dipti Mohan
3 minute read HVS May, 17 2022 In the last few years, international and domestic hotel chains have launched soft brands in the Indian hotel market, giving owners more flexibility in design and other brand standards. Read on to know more. In recent years, the Indian hotel sector has seen soft brand launches by domestic and international chains operating in the country, with the shift toward the soft brand model gaining traction post the pandemic.
HVS Asia Pacific Hospitality Newsletter - Week Ending 6 May 2022
Weekly Hotel Industry Asia Pacific News Roundup from from HVS Viva Land has Acquired SO/ Singapore Hotel from Royal Group for SGD240 million Vietnam-based Viva Land ("VL") has agreed upon the acquisition of SO/ Singapore Hotel ("SSH") from Singapore-based Royal Group ("RG") for SGD240 million. The 134-key heritage property is situated by the cross junction of Robinson Road and Boon Tat Street.
Watermark Lodging Trust to be Acquired by Brookfield Real Estate Funds for $3.8 Billion
Watermark Lodging Trust, Inc. (“Watermark,” “WLT” or the “Company”) announced today that it has entered into a definitive agreement with private real estate funds managed by Brookfield (“Brookfield”), under which Brookfield will acquire all of the outstanding shares of common stock of Watermark for $6.768 per Class A share and $6.699 per Class T share in an all-cash transaction valued at $3.8 billion, including the assumption of debt and preferred equity.
Baird/STR Hotel Stock Index Rose 0.7% in April
The Baird/STR Hotel Stock Index rose 0.7% in April to a level of 5,925. Year to date through the first four months of 2022, the stock index increased 3.1%. “Hotel stocks increased modestly in April but were significant relative outperformers as the broader travel recovery accelerated, particularly domestically,” said Michael Bellisario, senior hotel research analyst and director at Baird.
HVS Report - Indian Hotel Sector - Recovering the Lost Ground - By Mandeep S Lamba and Dipti Mohan
The upbeat travel sentiment is helping the Indian hotel sector to recover lost ground, with several markets outperforming their pre-pandemic performance during March 2022. Read on to know more. The recovery of travel demand in India is gathering steam, thanks to the relaxation of restrictions, positive travel sentiment, and the resumption of scheduled international flights, which has resulted in a significant increase in flight and hotel bookings in the country.
2021 European Hotel Transactions
2021 was a year of strong recovery for European hotel transactions. A total of €16.4 billion [1] worth of hotels changed hands, representing 322 individual transactions, 498 hotels and 79,000 rooms. Hotel prices per room were generally more expensive than in both 2020 and 2019, led by significant price increases in single-asset transactions, particularly in the Nordics.
Crowne Plaza Shell Cove Marina Hotel Planned to Open in 2025 on the NSW South Coast
IHG Hotels & Resorts announced the signing of its first hotel on the NSW South Coast, with the contemporary and inspiring Crowne Plaza Shell Cove Marina planned to open in 2025, following an agreement with Oscars Group. Crowne Plaza Shell Cove Marina will be part of a $1.5 billion master-planned coastal residential, commercial and tourist project within the Shellharbour region.
HVS Report - 2021 European Hotel Transactions - By Shaffer Patrick and Matthias Hecht
10 minute read HVS May, 5 2022 HVS discusses the main hotel transactions that took place in 2021 and looks at the trends in single-asset and portfolio transactions over the years. 2021 was a year of strong recovery for European hotel transactions. A total of €16.4 billion worth of hotels changed hands, representing 322 individual transactions, 498 hotels and 79,000 rooms.
Hotel Transactions Up on 2020 Levels With Single Asset Deals Reaching Record Average Room Rates, Reveals HVS Report
Hotel Transactions Up on 2020 Levels With Single Asset Deals Reaching Record Average Room Rates, Reveals HVS Report Strong recovery for European hotel transactions with deals worth €16.4bn Year sees record average sale price per hotel room for single assets at €260,000 London tops hotel transaction top 5 with Barcelona, Stockholm, Berlin and Madrid 03 May 2022, London: Last year was one of strong recovery for European hotel transactions with €16.4bn-worth of deals, twice that of 2020,...
2021 European Hotel Transactions
2021 was a year of strong recovery for European hotel transactions. A total of €16.4 billion[1] worth of hotels changed hands, representing 322 individual transactions, 498 hotels and 79,000 rooms. Hotel prices per room were generally more expensive than in both 2020 and 2019, led by significant price increases in single-asset transactions, particularly in the Nordics. Portfolios that traded tended to have more hotels and more rooms per hotel than in 2020, indicating increasing investor confidence.
HVS Report - 2020 European Hotel Transactions - By Shaffer Patrick
HVS discusses the main hotel transactions that took place in 2020 and looks at the trends in single-asset and portfolio transactions over the years. This article originally appeared on HVS. Total European hotel transaction volume reached €8.5 billion[1] in 2020, representing a fall of 69% on 2019 (see Chart 1), which was the previous market peak at €27.1 billion.
2020 European Hotel Transactions
Total European hotel transaction volume reached €8.5 billion[1] in 2020, representing a fall of 69% on 2019 (see Chart 1), which was the previous market peak at €27.1 billion. Even so, 2020 figures remain significantly ahead of those seen in the Global Financial Crisis, with 2009 seeing only €3.1 billion in transaction volume.
2019 European Hotel Transactions | By Nicolas Auer, Mattia Cavenati & Shaffer Patrick – Hospitality Net
Total European hotel transaction volume reached the highest annual level ever recorded last year - with €27.1 billion-worth of deals being struck, according to our annual European Hotel Transactions report published this week. The largest amount of capital was poured into the UK with some €5.3 billion (£4.4 billion) - 23% of total volumes, a 15% decrease on the previous year.
HVS reports record year for European hotel transactions
Total European hotel transaction volume reached the highest annual level ever recorded last year – with €27.1 billion-worth of deals being struck, according to the annual European Hotel Transactions report. The largest amount of capital was poured into the UK with some €5.3 billion (£4.4 billion) – 23 per cent of total volumes. This was, however, a 15 per cent decrease on the previous year.
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