By Anne Lloyd-Jones – Senior Managing Director, Director of Consulting & Valuation, New York
As of the writing of this article, the Coronavirus pandemic is only a few weeks old, yet it is clear that this event is already having a significant impact on the travel industry. The World Health Organization (WHO) has declared the virus, now known as COVID-19, a global health emergency, and individual governments have imposed travel restrictions and other measures, principally directed at travellers arriving from China.
Due to Kalispell's proximity to Glacier National Park, the region's local economy is largely tied to tourism and is highly seasonal. Kalispell is home to 22 open and operating hotels, encompassing 1,885 guestrooms.
By Benjamin A. Levin – Director, HVS Nashville
As expected, hotel transaction volume fell to a historic low during the peak of the Great Recession in late 2009, a drop that began roughly 24 months earlier at the end of 2007. Similar to the rebound in performance, transaction activity among economy hotels recovered rapidly, but soon declined as investors shifted their focus to midscale and upscale hotels, which recovered more slowly from the recession.
Based on survey results, the panel is bullish (median 67.5%) on the prospect of the 2020 transaction market beating 2019's tally of $62 billion. Interestingly, nearly 1/3 of the panel is 100% confident of this! On the other hand, the panel's outlook on U.
Minor Hotels Acquired Gold Coast Hotel in Australia, India and Maldives Signed Five MoUs to Establish Addu Tourism Zone, Queensland Government Announces the Development of Ecotourism Project, Thailand Launches New Campaign to Attract and Boost MICE Travellers from Neighbour Countries, Coronavirus Causes Collapse in Chinese Travel.
Fattal acquires Golden Tulip Hotel Bucharest from Atlas Estate, M-Square Hotel Budapest sold to Fattal Hotels, Cristina Hotel in Gran Canaria, Spain acquired by the Lopez Family, Queens Hotel Bournemouth acquired by Nq2.
Avignon acquires Hilton The Hague from Hillgate Development, Hines acquires three Cyan Group Hotels in Crete, Greece, Blackstone sells the Hotel Scandic CH in Gävle, Sweden, Reuben Brothers acquire the La Palma Hotel in Capri, Italy, Art-Invest acquires the Hotel Hanseatischer Hof in Lübeck, Germany, BVK forward-funds the Niu Yen in Hamburg, Concordia Hospitality acquires The Carmelite Hotel in Aberdeen, Scotland, MGM Muthu buys Erskine Bridge Hotel & Spa in Glasgow from Cosmopolitan Hotels.
Florian Kittler has been promoted Managing Director HVS Executive Search in Europe & Asia Pacific at HVS Executive Search in Europe & Asia Pacific
HVS Executive Search in Europe & Asia Pacific –
Russell Kett has been appointed Special Adviser to the board at Northern Powerhouse Developments (NPD)
Northern Powerhouse Developments (NPD) – Elland, United Kingdom
HVS Spa & Wellness Consulting – Sedona, Arizona, United States
HVS Brokerage & Advisory announces the sale of the 100-key Home2 Suites by Hilton Lubbock, located at 6004 Marsha Sharp Freeway, Lubbock, Texas 79407; and the 101-key Fairfield Inn & Suites by Marriott Lubbock Southwest, located at 6435 50th Street, Lubbock, Texas 79407.
Hospitality News for the Asia Pacific Region
CHICOS 2019 Draws 325 as Jamaica Rolls Out The Red Carpet For Hospitality Investment; Protecting the Environment and Crisis Preparedness Supplemented Talk of Financing and Development Incentives
The Caribbean Hotel Investment Conference and Operations Summit (CHICOS), the only forum in the region for discussion of relevant and timely hospitality development issues, just concluded its 9th edition with great fanfare and a record-breaking 325-person attendance.