allison fogarty
The Impact of Natural Disasters on Hotel Occupancy in Florida
Allison Fogarty | October 1, 2024
By Allison Fogarty For years, I’ve analyzed sharp fluctuations in hotel occupancy levels across several Florida markets, and one recurring explanation has been “disaster recovery.” In regions prone to hurricanes, fires, and floods, disaster recovery can significantly boost demand for hotels, even as some properties suffer damage or destruction. In the aftermath of Hurricane Helene, it's a timely reminder for lodging developers and analysts that the hospitality industry often experiences contrasting outcomes: while some hotels are devastated, others see a surge in demand. The Aftermath of Hurricane Helene Hurricane Helene touched grou...
Bad vs Horrible – Depends on How Performance Is Measured
Allison Fogarty | November 2, 2020
The importance of considering Total Rooms Inventory (TRI) in measuring Lodging Industry performance. By Allison Fogarty Through the pandemic, hotel Occupancy rates have hit historic lows throughout the country. We have constantly been asked “how bad is it?” Reports early in the pandemic, while awful, seemed to actually understate the catastrophic effect of the pandemic on the hospitality industry. We studied figures provided by STR and other industry analysts and questioned their representatives to fully understand reporting methodologies in an effort to truly understand the current situation in the lodging industry. Unfortunat...
How Much Is a Hotel Worth?
Pinnacle Advisory Group | July 15, 2020
By Allison Fogarty In the case of property tax assessments in Florida, probably somewhat less than the county property appraiser assumes. A recent court decision invalidated the method used by many county property tax appraisers in Florida to develop “just” values for hotels. The Background Walt Disney Parks and Resorts successfully argued that the Orange County Property Appraiser improperly considered income from the business activities conducted on the premises in establishing the just value of the Disney Yacht & Beach Club Resort which includes restaurants, retail shops, a spa and convention center in addition to its 1,197...
Takeaways From the Caribbean Hotel Investment Conference
Allison Fogarty | June 10, 2019
By Allison Fogarty The Caribbean is open for business, although recovery continues. As the region continues to recover from the devastating 2017 storm season, many hotels have reopened, even as infrastructure work continues. As always, recovery takes longer than anticipated, but open insurance claims are settling, and a number of properties are slated to reopen later this year, in time for the 2020 high season. Following the devastation, many owners of heavily damaged properties have taken the opportunity to significantly upgrade their properties with the proceeds of their insurance settlements, which will enhance their future positioning....
Tampa Lodging Market: Cause for Optimism
Allison Fogarty | July 19, 2018
Co-written by Allison Fogarty and Anu Lamichhane Ever since it was first settled and incorporated as a tiny village back in 1849, Tampa's population has shown a remarkably consistent growth trajectory with its subtropical climate, affordability, and robust local economy continuing to attract new residents from far and wide. Mirroring this population increase is the number of annual visitors making their way to this coastal Florida metropolis, which has subsequently led to a surge in hotel developments aiming to capitalize on strong demand growth. It is therefore little surprise that both demand and supply are expected to grow at above t...
Caribbean Hotels – Are The Airlines Impacting Occupancy?
Pinnacle Advisory Group | May 9, 2017
By Allison Fogarty Considering a trip to an island I haven't been to recently, and being somewhat flexible in timing, I was startled to realize that, given a reasonable lead time, it would be 25% cheaper to fly to London than to my island destination. Once again, we come up against the hard reality of Caribbean destinations – flying to Paradise is more expensive, and offers far fewer scheduling options, than flying to other destinations. What is the implication of this for the region? The most important source market for most Caribbean tourism destinations is the United States, although several islands are more dependent upon hist...
Airport Hotels: Predevelopment Planning
Allison Fogarty of Pinnacle Advisory Group | April 8, 2015
By Allison Fogarty The number and type of hotels that can be supported around airports varies widely by market, and while airline passenger movement is an important consideration, it is not the only hotel demand driver. Local and regional development and transportation patterns also influence the need for accommodations. In some cities, major office submarkets have developed around airports and local business activity fuels much of the local lodging demand. Passengers with early morning flights frequently seek accommodation near airports to avoid traffic delays in congested urban areas or in rural areas where long drives to the airport ...
