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Measuring Economic Impact Is a Win-Win for Developers and Municipalities
David J. Sangree | June 28, 2024
June 2024, by David J. Sangree, MAI, CPA, ISHC Introduction: At a time when financing for hospitality development projects is challenging for developers, it can often mean that some projects won’t ever come to fruition. At the same time, municipalities would like to increase their hotel or resort offerings to attract travelers to their destinations while remaining fiscally responsible. When developers seek government assistance for development projects, state and local authorities must balance the needs of developers in the community with the financial realities of the project. Commissioning an economic impact study will provide important ...
Waterparks Maintain Momentum in 2024 Amid Growth and New Opportunities
David J. Sangree | April 11, 2024
By David J. Sangree March 2024 – In 2023, waterpark owners and operators saw a more competitive market as attendance levels remained similar to 2022 while ticket pricing growth was more subdued. This occurred due to increased competition from a variety of additional attractions and entertainment venues in the post-pandemic economy. In 2023, 16 indoor waterpark openings and expansions added 480,000 square feet of indoor waterpark space while twelve new outdoor waterparks opened. New growth is forecasted for indoor and outdoor waterparks in 2024 as several large-scale projects will open that will alter the waterpark landscape. These projec...
Man-Made Lagoons Gain Popularity
Stephen Szczygiel | March 6, 2024
By Stephen Szczygiel, CHIA INTRODUCTION Man-made swimming lagoons, not to be confused with pools or waterparks, have emerged as a new and innovative way to enjoy recreational water activities. These large (over one acre of water surface) and uniquely designed aquatic venues present new opportunities within the residential, resort, and attractions industries. Over the past several years, H&LA has seen the emergence of swimming lagoons in many facets of leisure development from large-scale resort settings to residential developments. The rise in popularity of these man-made lagoons lies in their ability to create waterfront and bea...
2023: A Year of New Challenges and Opportunities for Hoteliers
Joseph Pierce | December 20, 2023
By Joseph Pierce, MAI The hotel industry has moved on from many challenges that have plagued it since the COVID-19 pandemic, but new challenges and opportunities have presented themselves in 2023. Carrying on from 2022, markets continue to deal with the highest cost of debt in decades, but the fear of a recession has receded, and the possibility of a “soft landing” from 40-year high inflation growth may be a reality. The industry remains flexible to the needs and desires of guests and continues to pivot to meet the challenges of the future. H&LA’s consultants have worked on many assignments in 2023, bringing with them the oppo...
Atlanta CBD Hotel Submarket Continuing to Push Forward
Anne Gompel, Adam Zarczynski | November 9, 2023
By Anne Gompel, MAI, CHIA and Adam Zarczynski, CHIA With the busiest airport in the world and a lower cost of doing business than peer regions, Metro Atlanta is the key inland distribution hub of the Southeast. Metro Atlanta is home to 17 Fortune 500 corporations like The Home Depot, Coca-Cola, Delta Air Lines, and UPS. It also sustains a diverse economy centered around technology, healthcare and health tech, logistics, advanced manufacturing, and now electric vehicles and clean tech. For the 10th consecutive year Area Development Magazine has ranked Georgia the number one state for business. Atlanta's strong economy has been spurred by...
As Camping Popularity Surges, RV Resorts Look to Capitalize With Hotel-Like Comforts
Anthony DiPonio | July 12, 2023
By Anthony DiPonio, CHIA Summary Over the past several years, H&LA has seen a marked increase in interest from developers and investors in campgrounds and RV resorts. RV parks are rebranding as resorts as they add more amenities. Though camping is far from a new phenomenon, its uptick in popularity during the COVID-19 pandemic helped introduce it to many first-time campers, which boosted participation to higher levels. One of the most popular pastimes in North America, camping has the added benefit for travelers of also being one of the most affordable and accessible vacation options. As camping continues to grow in popularity, ...
Waterparks Poised for More Growth Amid Robust Recovery
David J. Sangree | April 19, 2023
By David Sangree In 2022, waterpark owners and operators breathed a sigh of relief as the industry shifted back to normal in the wake of two years of uncertainty. With the pandemic a rearview concern in 2022, most waterparks continued their recovery to see attendance improve. This robust performance paved the way for new growth in all segments of the industry. Several large-scale projects planned for 2023 and beyond will alter the waterpark landscape at both indoor and outdoor waterparks. These projects will continue to encourage existing properties to innovate and update to keep market share. The industry is also seeing elevated intere...
H&LA’s Takeaways From the Hunter Hotel Investment Conference
Adam Zarczynski | March 31, 2023
By Adam Zarczynski, CHIA H&LA’s Adam Zarczynski attended the Hunter Hotel Investment Conference in Atlanta in March. Here are some key highlights from the conference: Optimism could be found, although many leaders cautioned the industry is still facing significant challenges. While hotels continue to achieve strong KPI’s in many markets, inflation and high interest rates have slowed down the construction pipeline in recent months. Additionally, hotel sales activity has also been impacted as sellers continue to search for strong returns and buyers are looking to acquire assets at lower prices due to the issues with financing. O...
