hvs market pulse
HVS Market Pulse: Arlington, Virginia
HVS | January 20, 2022
The COVID-19 pandemic has had a severe impact on the Arlington, Virginia, and greater Washington, D.C. region’s lodging markets. Although a substantial amount of leisure demand was present in 2021, Arlington’s lodging market has remained depressed overall for nearly two years given the limited commercial, government, and group demand. Demand was healthy in the years prior to the pandemic, with Arlington hotels registering occupancy levels in the mid-70s from 2016 through 2019. Largely generated by Arlington’s proximity to Washington, D.C., occupied room nights represented a mix of leisure travelers visiting the monuments and museum...
HVS Market Pulse – Salt Lake City, Utah
Katy Black | September 15, 2021
By Katy Black, Ryan Mark Before the Pandemic Occupancy within the Downtown submarket remained stable, consistently registering near the 70% mark, for the five years prior to the pandemic. Average daily rate (ADR) growth during that period was also consistent at a compound annual growth rate (CAGR) of 3.0%. These metrics illustrate the strength and stability of the local market, even in 2018 when the city lost its largest convention, Outdoor Retailer, as it moved to Denver, Colorado. The number of events held at the Salt Palace Convention Center rebounded in 2019. Convention attendance surpassed one million delegates in the two ye...
HVS Market Pulse – South Dallas, Texas
Niraj Bhavsar | June 14, 2021
By Niraj Bhavsar, Kathleen Donahue The industrial sector is a key player within southern Dallas County and northern Ellis County, which are part of the Best Southwest Partnership. A vast network of roads in the greater Metroplex provide direct access to other parts of the region and country. South Dallas is home to the International Inland Port of Dallas (IIPOD), an intermodal and logistics district that encompasses 7,500 acres and five municipalities. This area hosts over 17,000 workers, and major manufacturing tenants include American Textile Company, Pioneer Frozen Foods, Niagara Bottling, and Serta Dormae. Corporations with logi...
HVS Market Pulse Update, Charleston, SC
Heidi Nielsen | June 11, 2021
By Heidi Nielsen, Rod Clough Rod Clough, President – Americas, interviewed Heidi Nielsen, Managing Director, Charleston overseeing the Carolinas and Coastal Georgia, on June 10, 2021, to discuss the current Charleston market dynamics and the outlook for recovery. Heidi outlines what the market looks like today, the factors contributing to current performance levels, and what will help drive improvements in future performance. She provides the forecast of occupancy and average rate for Charleston, as well. This nine-minute video provides important insights and factors to consider for those currently invested or considering investing in t...
HVS Market Pulse Update – Minneapolis – St. Paul
Tanya Pierson | March 25, 2021
By Tanya J. Pierson, Justin Westad, Rod Clough Rod Clough, President – Americas, interviewed Tanya Pierson, Senior Managing Director, Minneapolis and Justin Westad, Vice President, Minneapolis overseeing the Upper Midwest region, on March 23, 2021, to discuss the current Minneapolis market dynamics and the outlook for recovery. Tanya and Justin outline what the market looks like today, the factors contributing to current performance levels, and what will help drive improvements in future performance. They provide their forecast of occupancy and average rate for Minneapolis-St. Paul, as well. This seven-minute video provides important ins...
Market Pulse: Washington, D.C. Lodging Market
Chelsey Leffet | March 15, 2021
By Chelsey Leffet The Washington, D.C. lodging market has historically been one of the most stable of the major U.S. markets given its status as the hub of national political affairs and the center of governmental action and policy, while also playing a major role in international affairs. Aside from the government-related activity, numerous industries and institutions have contributed to and supported the region, including finance, education, healthcare, and scientific research. While typically insulated from recessions and tourism declines, Washington, D.C. was not spared amid the ongoing worldwide pandemic in 2020. Washington, D.C. 2...
HVS Market Pulse – Milwaukee, Wisconsin
Justin Westad | March 9, 2021
By Justin Westad, Amy Schmidt Prior to the COVID-19 pandemic, Downtown Milwaukee was experiencing revitalization and growth over a period of nearly ten years. The year 2020 was expected to be one of Milwaukee’s record years, with the Democratic National Convention scheduled for July. Given the reduction in attendance of this major one-time event and other citywide events that were forced to reschedule, RevPAR declined by 66%. Data provided by STR and Visit Milwaukee indicate that occupancy in Downtown Milwaukee dropped from 71.4% in 2019 to 32.5% in 2020. Meanwhile, average daily rate (ADR) declined from $144.10 in 2019 to $106.57 in ...
HVS Market Pulse: Green Bay, the Home of the Packers
Amy Schmidt | February 19, 2021
By Amy Schmidt Green Bay, the third-largest city in Wisconsin behind Milwaukee and Madison, is best known for being home to the NFL’s Green Bay Packers and their home stadium, Lambeau Field, and the market’s hotel industry has reaped the benefit of the growth generated from the surrounding Titletown District. However, in 2020, the COVID-19 pandemic caused a significant decline in lodging demand given the restrictions set on sporting events and the limits on gatherings. While the Packers averaged a total attendance of 77,845 per game in the 2019 regular season,[1] fans were prohibited from attending home games during the 2020 seas...
