Opinion

2025 Lodging Tax Report - USA

Since room sales generate lodging tax revenues, an overview of hotel market trends provides insight into the industry’s current and future fiscal impacts. As documented in our 2024 HVS Lodging Tax Study, the national lodging market has experienced r...

Thomas A. Hazinski
Thomas A. Hazinski
Managing Director of HVS Convention, Sports, & Entertainment Facilities Consulting in Chicago
HVS
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Lodging Industry
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Finance & Accounting
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Thomas A. Hazinski
by Thomas A. Hazinski, Henry Detmer and Max Leeds
30 October 2025HVSLodging Industry
HVS
Opinion

Restricted Appraisal vs. Standard Appraisal: Understanding the Differences

Per the Uniform Standards of Professional Appraisal Practice (USPAP), there are two appraisal report formats: the restricted appraisal report and the standard appraisal report. But what’s the difference between these two report types, and how do you...

Brian F. Bisema
Brian F. Bisema
Managing Director and Partner of HVS Boston
HVS
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Finance
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Asset Management
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Brian F. Bisema
by Brian F. Bisema
20 October 2025HVSFinance
HVS
Opinion

2025/26 Federal Per-Diem Update: Steady Rates Ahead

The federal government per-diem rate is made up of a lodging allowance and a meals and incidental expense (M&IE) allowance. The per-diem lodging rates, which set the maximum amount a federal traveler can reimburse, are based on the average rates for...

Chelsey Leffet
Chelsey Leffet
Managing Director, Northeast Leader, HVS
HVS
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Finance & Accounting
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National & International Policy
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Chelsey Leffet
by Chelsey Leffet
2 October 2025HVSFinance & Accounting
HVS
Opinion

The Dark Side of Hotel Insurance: A History of Broken Promises

Hotel insurance has long been sold as a safety net for one of the world’s most unpredictable industries. But behind the polished marketing and “peace of mind” slogans lies a history riddled with fine print, exclusions, and moments where insurers pro...

Thomas Cleary
Thomas Cleary
Hospitality Practice Leader, The Loomis Company, and a consultant of Cayuga Hospitality Consultants.
Cayuga Hospitality Consultants
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Finance
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Lodging Industry
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Innovation
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Thomas Cleary
by Thomas Cleary
25 August 2025Cayuga Hospitality ConsultantsFinance
Cayuga Hospitality Consultants
Opinion

Turning Numbers Into Narratives

Budget season in hospitality can feel like trying to land a plane in fog—numbers are everywhere, and every decision impacts your property’s future. That’s where the Budgeting Playbook comes in as a clear, actionable guide to help you build a strateg...

Tim Hayes
Tim Hayes
Vice President of Financial Analysis, Newport Hospitality Group
Newport Hospitality Group
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Finance
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Lodging Industry
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Tim Hayes
by Tim Hayes
18 August 2025Newport Hospitality GroupFinance
Newport Hospitality Group
Opinion

Summertime Blues: Corporate Finance Faces a Financial Reporting Reckoning

Summer is just at the half-way point, but financial reporting for many borrowers for second quarter is still around the corner. Given market volatility, tariffs and other financial burdens – initial indicators suggest that companies are likely strai...

Marianne Martin
Marianne Martin
Corporate Finance Partner, JMBM’s Corporate Practice
JMBM
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Finance
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Legal
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Marianne Martin
by Marianne Martin and Bennett G. Young
31 July 2025JMBMFinance
JMBM Global Hospitality Group
Opinion

HVS U.S. Hotel Development Cost Survey 2025

In 2025, the national lodging market has continued to demonstrate resilient performance, maintaining strong average daily rate (ADR) and revenue per available room (RevPAR) metrics despite flat occupancy growth. Compared to 2023 and 2024, ADR and Re...

Luigi Major
Luigi Major
Vice President, Houston at HVS
HVS
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Finance
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Markets & Performance
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Supply Construction
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Luigi Major
by Luigi Major
18 July 2025HVSFinance
HVS
Opinion

Monitoring The Rise in Technology Expenditures

With expectations of limited revenue growth in 2025, U.S. hoteliers are focusing on all expense categories within their hotels. Early indications are that property operators are doing a commendable job managing the more controllable expenses within ...

Robert Mandelbaum
Robert Mandelbaum
Director of Research Information Services at CBRE Hotels
CBRE Hotels
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Information Technology
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Finance & Accounting
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Robert Mandelbaum
by Robert Mandelbaum, Adam Barry and John Pomposello
8 July 2025CBRE HotelsInformation Technology
CBRE Hotels
Opinion

Running Up That (Inflationary) Hill: Why Hotel Profits Still Lag Behind

At first glance, the hotel industry in the United States seems to be climbing back. Total revenue per available room (TRevPAR), gross operating profit per available room (GOPPAR), and payroll per available room (PayPAR) have all posted year-over-yea...

Laura Resco
Laura Resco
Director, Hospitality Intelligence – Americas at HotStats Limited
HotStats Limited
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Finance
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Markets & Performance
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Laura Resco
by Laura Resco
1 July 2025HotStats LimitedFinance
HotStats Limited