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Colliers International Virginia names senior VP, asst. VP of capital markets team
Colliers International Virginia announced Thursday it has hired Prashant Merchant as senior vice president of the company’s capital markets team and Nic Wade as assistant vice president. Merchant and Wade most recently led the hospitality division for California-based real estate brokerage Marcus and Millichap Inc. In their new role, they will focus on hotel and […]
Va. hotel revenues remain 51% lower than last year
Virginia hotel revenues continue to decline by more than 50% when compared with last year, according to data released Wednesday from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. Hotel revenues in Virginia dropped by 51% and rooms sold declined by 33% last week, compared with the […]
Va. hotel revenue is still down by more than 50% from 2019
Despite the fast-approaching holiday season, Virginia hotel revenues continue to decline when compared with last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. While COVID-19 cases spiked during the week of Nov. 29 through Dec. 5, hotel revenues in Virginia dropped by […]
Hilton to sell $1.9B in debt in private offering
As hotel industry revenues continue plummeting, McLean-based Hilton Worldwide Holdings Inc. announced this week it will sell $1.9 billion in debt in a private offering to institutional buyers. The hotelier will sell $800 million of senior notes (due in 2029) at a 3.75% interest rate and an additional $1.1 billion at a 4% rate. Those […]
More than $1.9M in grants going to Va.’s tourism industry
While COVID-19 continues to slam the tourism and hospitality industries, Gov. Ralph Northam announced Monday that more than $1.9 million in matching grants will be disbursed among 161 local tourism initiatives as part of Virginia Tourism Corp.’s Recovery Marketing Leverage Program (RMLP). Although Virginia’s tourism industry had another record year in 2019, posting $27 billion [&hellip[...]
Va. hotel revenues likely to remain low through holidays
With the holiday season looming, Virginia hotel revenues continue to decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Nov. 1 through Nov. 7, hotel revenues in Virginia decreased by 53% and rooms sold […]
Hotel revenues stay low as pandemic enters eighth month
Moving into the eighth month of the pandemic, Virginia hotel revenues continue to decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Oct. 25 through Oct. 31, hotel revenues in Virginia decreased by 45% […]
Va. hotel revenues stay at steady decline
As the pandemic surges on, Virginia hotel revenues remain at a steady decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Oct. 18 through Oct. 24, hotel revenues in Virginia decreased by 50% and […]
Hotel industry recovery ‘a long way off’
Virginia hotel revenues continue at a steady decline compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Oct. 11 through Oct. 17, hotel revenues in Virginia decreased by 50% and rooms sold declined by 31%, compared […]
Va. hotel revenues continue to suffer
Virginia hotels continue to see significant revenue declines compared to pre-pandemic times, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Oct. 4 through Oct. 10, hotel revenues in Virginia were down 46% and rooms sold were down 29% compared […]
Va. hotels continue slow recovery
Virginia hotel revenues remained below pre-pandemic levels last week, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Sept. 27 through Oct. 3, hotel revenues in Virginia decreased by 43% and rooms sold declined by 27%, compared to the same […]
Va. hotel revenues continue to slip
Virginia hotel revenues continued to worsen last week after a small improvement during the Labor Day weekend, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Sept. 13 through Sept. 19, hotel revenues in Virginia decreased by 52% and rooms […]
