Chris Cabrera
HVS Market Pulse: The Florida Keys Lodging Market
Chris Cabrera | February 16, 2021
By Chris Cabrera Notable market downturns that have negatively impacted the Florida Keys lodging market include the Great Recession in 2009, the Zika virus in 2016, Hurricane Irma in 2017, and the ongoing global pandemic. Nonetheless, hotel and resort properties in the Florida Keys have positive attributes that allow owners and operators to continue to perform well even during the hardships of economic crises. The heavy leisure-dependent market, without reliance on commercial and meeting/group demand, allows local hoteliers to overcome multiple challenges other national markets cannot offer or accommodate. After recently visiting the ...
COVID-19’s Impact on Values
Rod Clough | November 11, 2020
By Rodney G. Clough, Ryan Mark, Chris Cabrera The hotel sector is most certainly managing its way through the trough of the current downcycle, and a tough winter lies ahead for the U.S. lodging industry, although brighter skies should emerge next year. We took this opportunity to review our valuation findings and compare these to valuations of the same hotels we completed in the years and months leading up to the spring 2020 decline. We have appraised over 1,000 hotels since the start of the pandemic (most from mid-summer to today). Of these, 140 were also appraised by our firm in the 2017–2019 peak-value timeframe. The percentage change...
