HVS News · 9 Sep
HVS Brokerage & Advisory announced that it has closed on the sale of the 65-key Candlewood Suites Port Arthur/Nederland located at 2125 US-69, Ne
HVS · 6 Sep
MGM Resorts acquires stake in Sydell Group, Corinthia sells Panorama Hotel in Prague to S + B Gruppe, LXI forward-funds three budget hotels in the UK
HVS News · 28 Aug
On behalf of a private Middle Eastern client, HVS Vancouver, with support of HVS Asset Management, has completed the acquisition of the Residence Inn
HVS News · 27 Aug
HVS Brokerage & Advisory announced today that it has closed on the sale of the 70-key Hampton Inn Houston NASA-Johnson Space Center located at 30
HVS News · 27 Jun
HVS, the leader in global hospitality consulting, is pleased to announce expansion of its North America Brokerage & Advisory division with the ad
HVS · 17 May
Independent, budget motels are often operated by resident owners that are talented at running efficient, safe motel operations but lack sophisticated and complete financial models that generate proper reports upon which to base purchase and valuation decisions. It is important for a buyer to understand that available financial information may not tell the full story, and relying solely on what is available may sell short the profit potential of the hotel and, ultimately, its true value. In Part 1 of this series, I discuss the importance of deriving a proper revenue estimate and testing its reasonableness against the norms for the neighborhood and market.
HVS · 16 May
At the most basic level, the value of a hotel is based on the property’s net income divided by a capitalization rate. As such, one has two possible levers to adjust as a means of increasing a property’s value: either increase the property’s net income or decrease the capitalization rate.
HVS News · 16 May
HVS CEO Stephen Rushmore Jr. and HVS Americas President Rod Clough are pleased to announce that the firm's Mexico City practice has assumed responsib
HVS News · 24 Apr
HVS Brokerage & Advisory announced today that it has closed on the sale of the 55-key Comfort Suites near Texas Medical Center/NRG Stadium for an und
HVS · 29 Mar
Park Hotels & Resorts sells the Hilton Nuremberg, Sheraton Warsaw sold to Patron Capital, Circle Square Hotel in Manchester sold to Aviva, Fergus Hot
HVS · 18 Mar
In 2018, the Canadian lodging market reached a new record high for RevPAR. Although regional performance differed widely, more developments are in the pipeline in 2018 that any year since 2013. After the global financial crisis hit the Canadian lodging market in 2009, causing a 12.3% contraction in RevPAR, the industry in general has been on an upward trajectory. In fact, RevPAR growth for the country has been registered for 106 consecutive months—the longest period of sustained growth on record.
HVS · 12 Feb
Delegates at the Hotel Alternatives conference held in London last week were told that UK banks are finding it tougher to compete with alternative le
HVS · 4 Feb
YTL Corporation Acquires Westin Perth Hotel in Australia
HVS · 17 Jan
A possessory interest is created when a private-sector tenant is granted exclusive use of real property (land and/or building) that is owned by a tax-exempt entity, typically a municipality or a state or federal government agency. The right to occupy and use the land and/or building is usually conferred via a lease
HVS · 22 Nov
In 2017/18, the national lodging market continued to climb to new heights. In 2017, hotels in the United States operated at the highest occupancy and average rates ever recorded, with additional growth across both metrics in the 2018 year-to-date period. Hotel development activity correlates directly with the ebbs and flows of hotel-sector performance. As the market continued to reach a new peak for the current development cycle in 2017, developers pursued hotel construction and redevelopment at a pace not seen since 2006 and 2007, and the pipeline of new hotel projects gained momentum. HVS has tracked hotel development costs for the last three decades, collecting data from actual hotel cost budgets during our assignments. This year's sample reflects the largest sample HVS has analyzed given the number of hotels in the pipeline, as well as our growing presence in 40 U.S. markets. This 2017/18 survey reports per-room hotel development costs based on data compiled by HVS from hotel projects proposed or under construction during the 2017 calendar year. With the availability of more data, we elected to add a redevelopment category to account for projects that did not include ground-up construction, such as those that involved a complete renovation, conversion, or adaptive reuse. Thus, our data now reflect ten product categories: budget/economy, limited-service, midscale extended-stay, upscale extended-stay, dual-branded, select-service, full-service, lifestyle/soft-branded, redevelopment, and luxury hotels. The HVS Hotel Development Cost Survey sets forth averages of development costs in each defined lodging product category. The survey is not meant to be a comparative tool to calculate changes from year-to-year, but rather, it reflects the cost of building hotels across the United States in 2017. As will be discussed, the averages set forth in this survey are greatly affected by the types and locations of hotels being developed at this point in the development cycle. Our goal in sharing this publication is to provide a basis for developers, investors, consultants, and other market participants in evaluating hotel development projects. Given that development costs for hotels are dependent on a multitude of factors unique to each development and location, this report should not be relied upon to determine the cost for actual hotel projects or for valuation purposes, but rather, it is intended to provide support for preliminary or actual cost estimates, as well as to show a comparison across the various categories.
HVS · 12 Nov
Transaction activity has been observed to be on a downward trend from 2013 until 2017, owing to the transactions of Dalian Wanda China portfolio to R
HVS · 25 Sep
In this seventh annual Lodging Tax Study, HVS Convention, Sports, and Entertainment Consulting surveys lodging tax rates and revenues across the United States. Our study includes a broad range of cities and tracks policy trends in lodging tax impositions. This research identifies the lodging tax rates levied at the state, county, city, and special district levels. We provide data on the collection and distribution of revenue from lodging taxes levied in all 50 States and the 150 largest cities in the United States.
HVS · 19 Apr
This article reveals how spa and wellness aspects are disseminated throughout the whole guest experience, and how wellness motivated design and construction elements complement property development, enhance marketability and engagement and is spurring new growth across the hospitality sector. This article also examines how critical management adjustments, and product and service enhancements can significantly add value, increase RevPAR and improve average daily rate performance.
HVS · 2 Mar
This article gives an overview of hotel investment volumes in Europe in 2017, discussing trends and forecasts and providing a comprehensive list of s
HVS · 10 Oct
HVS is reminding owners and asset managers of hotels and casinos that have suffered insured losses of profits due to business interruption from the r