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Opinion Articles

Opinion Article

Seattle Hotel Market: A Shining Beacon of the Pacific Northwest

A key driver of Seattle’s leisure demand is its cruise industry. In 2023, the number of Alaska cruises reached 291, a record number compared to 213 in 2019. The Port of Seattle estimates the annual impact of a cruise season on the region at $900 million. This demand particularly benefits local hotels, as passengers typically stay overnight in Seattle before and/or after their trip.

Eileen Bosworth
By Eileen Bosworth, Senior Project Manager, Portland, HVS
Seattle, Washington, United States
Opinion Article

The 2024 Group Business Forecast: Trends to Help Hotels Capitalize on the Back-to-In-Person Boom

Group business is back in a big way. In-person events are returning to their pre-COVID normal pace. In 2024, 81 percent of meetings will have an in-person component in them. A recent study by Deloitte anticipates that by 2024, business travel spending will return to its level before the pandemic. This view is echoed in Accor's data, which shows in their latest survey regarding client business travel that 57 percent of those surveyed anticipate a budget increase for travel in 2024 compared to 2023.

Mike Pavicich
By Mike Pavicich, Director, Global Sales, SalesAndCatering.com, LLC
Barrie, Ontario, Canada
Opinion Article

Boston/Cambridge Lodging Market – 2023 Year End Review

The Boston/Cambridge lodging market ended 2023 at 76.4% occupancy, a 6.8% variance over 2022’s 69.6%. This 6-point increase in occupancy is a result of the market accommodating 8.6% more rooms in 2023 compared to the prior year; 0.6% more rooms occupied as compared to 2019. Seasonality appears to be in sync with what we typically expect for the Boston market. Peak season, May through October, monthly occupancies ranged between 84% and 89%, averaging 86%.

Rachel Roginsky
By Rachel Roginsky, Principal, Pinnacle Advisory Group
Massachusetts, United States
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Opinion Article

Brooklyn Continues to Blossom in the Post-Pandemic Period

The Brooklyn hotel industry has been experiencing post-pandemic recovery due in part to strong leisure demand, an increase in meeting and group business, and the gradual return of commercial demand. Additionally, the New York City Department of Homeless Services and related entities have been utilizing many hotels as temporary shelters for homeless residents and migrants/asylum seekers.

Patricia Shih
By Patricia Shih, Director, HVS
Brooklyn, New York, United States
Opinion Article

Brands and Brand Families Matter: A look back 2013–2022

To help hotel developers and investors with their due-diligence process, CBRE Hotels Research collected more than 20 years, and analyzed ten years, worth of hotel key performance indicators (KPIs) disclosed in the SEC filings of six large public companies: Choice, Hilton, Hyatt, IHG Hotels & Resorts, Marriott and Wyndham. Combined, these companies had more than three million rooms or approximately 60% of total U.S. hotel supply at year-end 2022. Underlying data used to conduct this analysis is available for purchase here.

Rachael RothmanChristine Bang
By Rachael Rothman and Christine Bang
United States
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Opinion Article

Sacramento Growth Continues

Over the past decade, Sacramento has seen strong economic growth, driven by investment in the Downtown and Natomas submarkets. Fueled by rising costs in the San Francisco Bay Area, businesses and individuals have migrated inland toward the more cost-efficient Sacramento Valley. With several major commercial developments in the works, Sacramento should experience sustained growth in the near term.

Brandon ConnerJohn Berean
By Brandon Conner and John Berean
Sacramento, California, United States
Opinion Article

Charleston, SC: Making & Preserving History

Europeans first settled in the city that would become Charleston over 350 years ago. Charleston’s rich history is one of the drivers of its thriving tourism sector, which tallied 7.68 million visitors in 2022. In the hospitality industry, Charleston continues to make history, while local initiatives are also making strides to preserve it.

Courtney Vris
By Courtney Vris, Senior Project Manager and Leader HVS Atlanta office, HVS
Charleston, South Carolina, United States
Opinion Article

Boston/Cambridge Lodging Market – Outlook is for Positive Growth for 2024

After spending the last 32 years tracking and analyzing the Boston/Cambridge (“the City”) lodging market, Pinnacle Advisory Group (“Pinnacle”) is quite comfortable forecasting top line (occupancy and ADR) revenue for the City. But projecting the future with precision can be complicated. Here’s our perspective on the City’s lodging market for 2024:

Rachel Roginsky
By Rachel Roginsky, Principal, Pinnacle Advisory Group
Boston & Cambridge, Massachusetts, United States
Opinion Article

Atlanta CBD Hotel Submarket Continuing to Push Forward

With the busiest airport in the world and a lower cost of doing business than peer regions, Metro Atlanta is the key inland distribution hub of the Southeast. Metro Atlanta is home to 17 Fortune 500 corporations like The Home Depot, Coca-Cola, Delta Air Lines, and UPS. It also sustains a diverse economy centered around technology, healthcare and health tech, logistics, advanced manufacturing, and now electric vehicles and clean tech. For the 10th consecutive year Area Development Magazine has ranked Georgia the number one state for business.

Adam ZarczynskiAnne Gompel
By Adam Zarczynski and Anne Gompel
Atlanta, Georgia, United States
Opinion Article

The Continued Recovery of the New Orleans Lodging Market

New Orleans consistently ranks among the top leisure destinations in the United States due to its reputation for food, drink, and music; the preserved Vieux Carré (French Quarter); and its innate culture of hospitality. In 2020, New Orleans’s most popular event, Mardi Gras, was held on February 25, but the city shut down on March 20 as COVID-19 infection rates began to increase. Thus, Jazz Fest and other conventions, events, and festivals for the rest of that year were canceled.

Lauren Hock
By Lauren Hock, Senior Vice President and Leader of HVS New Orleans, HVS
New Orleans, Louisiana, United States
Opinion Article

Anchorage, Alaska: Hotel Market Trends and Conversions to Housing

While Anchorage was significantly affected by the pandemic, a surge of independent travelers boosted the economy in 2021. More robust growth occurred in 2022 with the return of normal demand sources. Furthermore, the conversion of hotels to permanent housing has reduced the hotel supply in Anchorage and contributes to recent trends.

Breanna Smith
By Breanna Smith, Senior Vice President, Portland, HVS
Anchorage, Alaska, United States