On recent visits to Las Vegas to host an internal training meeting at Mandalay Bay and then to complete a consulting engagement at a suburban limited-service hotel, I found the city to be extremely active.
Most hotels in urban centers profit considerably off of available parking capacity and, depending on the garage size and operational strategy of the hotel owner, garages can be significant value drivers.
HVS Brokers Survey, HVS Hotel Valuation Index (HVI), HVS Development Cost Survey, HVS Franchise Fee Guide, HVS Lodging Tax Report, HVS Quarterly Industry Statistics Update, HVS Spa Performance Report
The 41st NYU International Hospitality Industry Investment Conference wrapped up on June 4, 2019, and the overall sentiment of the event was one of caution, a shift from a sentiment of cautious optimism at conferences earlier in the year.
Independent, budget motels are often operated by resident owners that are talented at running efficient, safe motel operations but lack sophisticated and complete financial models that generate proper reports upon which to base purchase and valuation decisions.