stacey nadolny
HVS Market Pulse: Toledo, Ohio
Stacey Nadolny | June 21, 2019
By Stacey E. Nadolny Much like other markets in the “rust belt” Midwest, Toledo is experiencing a period of redevelopment, with major projects occurring in the healthcare, public, education, tourism, and, yes, hospitality sectors. Eight new hotels have opened since 2014 (including the fully renovated Renaissance), accounting for a 24% increase in overall supply in Lucas County during a five-year period. For several years, the growth areas in Toledo were clustered in the suburban markets of Holland and Maumee, as the city’s major employers moved to the south suburbs, leaving major vacancies Downtown. Further south, Perrysburg, in Wood...
HVS Market Pulse: Chicago Ascending
Dana W. Floberg | March 28, 2019
Dana W. Floberg, Stacey E. Nadolny Chicago continues to attract major corporations and hotel development, supported by its proximity to global transportation infrastructure and a well-educated workforce. In 2018, 57.6 million visitors came to Chicago, setting a record for city tourism. In addition to the plethora of tourist attractions in Downtown Chicago, McCormick Place continues to be a major demand generator for the ever-growing supply of hotels in the market. In the last two years, the 1,200-room Marriott Marquis, the 466-room tri-brand Hilton hotel, and the 10,000-seat Wintrust Arena all opened within one block of the convention c...
U.S. Hotel Development Cost Survey 2016/17
Stacey E. Nadolny | November 2, 2017
By Stacey E. Nadolny Hotel development activity correlates directly with the ebbs and flows of hotel-sector performance. As we reached the peak of the current cycle in 2016, developers pursued hotel construction and redevelopment at a pace we haven't seen since 2006 and 2007. 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 35 U.S. markets. The data in this survey reflect budgets from 2016. With the availabi...
Five Key Takeaways from Hunter Conference 2015
Mike Brophy | April 14, 2015
The 2015 Hunter Hotel Conference shone light on how hoteliers can take advantage of present performance trends and high demand. Experts also raised concern over rising costs and a tipping point for new supply. The 2015 Hunter Hotel Investment Conference hit its 27th year in stride, with delegates in hearty spirits after a year of very healthy industry performance. Conference founder and co-chair Bob Hunter has consistently coordinated an event that speaks to the concerns of hotel owners; in fact, the ratio of hotel owners to other industry agents (such as developers, consultants, and lenders) is far greater at Hunter than at the other ...
