Ohio Chapter of the Appraisal Institute 40th Annual ...

Ohio Chapter of the Appraisal Institute 40th Annual Economic Seminar

Ohio and National Lodging Industry Overview: Statistics, Appraisal Issues,

and New Supply

Presented by: David J. Sangree, MAI, CPA, ISHC

Presentation Outline: ? National Hotel Overview ? Cleveland Market Overview ? Columbus Market Overview ? Cincinnati Market Overview ? Dayton Market Overview ? National Hotel Pipeline and Forecasts ? Appraisal Process for Hotels

Presentation by David J. Sangree, MAI, CPA, ISHC

Overall U.S. Lodging Performance

2012 2013 2014 2015 2016

Occupancy 61.4% 62.3% 64.4% 65.5% 65.5%

% Change 4.2% 1.5% 3.4% 1.7% 0.0%

ADR $106.02 $109.98 $114.92 $120.01 $123.97

% Change 3.8% 3.7% 4.5% 4.4% 3.3%

Re v PA R $65.10 $68.47 $74.02 $78.63 $81.19

Source: STR

% Change 8.1% 5.2% 8.1% 6.2% 3.3%

Presentation by David J. Sangree, MAI, CPA, ISHC

Year

Occ

2012

58.4%

2013

58.5%

2014

59.8%

2015

60.2%

2016

59.7%

Source: STR

Ohio Performance Summary

% change ADR % change

4.8%

$82.98

4.8%

0.2%

$86.98

4.8%

2.2%

$90.42

4.0%

0.7%

$94.59

4.6%

-0.8% $97.40

3.0%

REVPAR $48.42 $50.89 $54.12 $56.98 $58.16

% change 9.8% 5.1% 6.3% 5.3% 2.1%

Presentation by David J. Sangree, MAI, CPA, ISHC

Cleveland MSA Summary

Year

Occ % change

ADR

% change

2012

61.0%

6.7%

$88.79

5.4%

2013

61.8%

1.3%

$93.94

5.8%

2014

61.2%

-1.0%

$98.64

5.0%

2015

62.9%

2.9%

$102.45

3.9%

2016

61.2%

-2.8%

$109.39

6.8%

Source: C BRE Hotels Americas Research, STR, Q2 2017

REVPAR $54.18 $58.06 $60.33 $64.49 $66.95

% change 12.4% 7.2% 3.9% 6.9% 3.8%

Presentation by David J. Sangree, MAI, CPA, ISHC

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