A Case Study: Boutique Hotel Project in the Hudson Valley
A client developing a high-profile boutique hotel and event center on the Hudson Valley sought research support for their SBA loan application. The $15+ million project, backed by over $2 million in state funding, required updated market insights due to COVID-19’s impact.
Research Provided:
Industry reports on COVID-19’s impact on global lodging
- STR data on hospitality recovery trends
- Destination wedding studies for Hudson Valley
- U.S. Travel Association insights on travel recovery
- NYS Hospitality & Tourism Association data
- Valuation multiples from Vertical IQ, RMA, and BRG
Impact:
- Updated pre-existing market feasibility study with COVID-specific insights
- Delivered credible COVID Impact Analysis for SBA requirements
- Enhanced understanding of destination wedding market dynamics
The research helped secure approval from both the bank and SBA, advancing the project towards necessary funding.
This case demonstrates how tailored research can navigate complex requirements and support ambitious projects, even amid unprecedented challenges like the COVID-19 pandemic
Pandemic & Recovery
The COVID-19 pandemic significantly impacted the hotel industry in the Hudson Valley region, causing initial severe declines followed by a strong recovery.
Overall, while the Hudson Valley hotel industry faced severe challenges during the early stages of the pandemic, it has since experienced a robust recovery, with visitor spending and employment levels surpassing pre-pandemic figures.
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