HVS Global Hospitality Services is a consulting firm that specializes in providing services to the hospitality industry. The company has a global reach, spanning over 30 offices staffing by more than 400 industry professionals, and has just opened a brand new office in New Orleans.
New Orleans native Adam Lair will be heading up the office on Canal Street, which will be focused on the consulting and valuation aspects of HVS. He is currently joined by one associate with plans to expand the local team by the end of the year. Aside from traditional consulting assignments, the office will primarily execute market studies, feasibility studies and appraisals.
Lair says HVS had sights on a New Orleans office for some time now. The company has done a lot of work in the city over the last few years (HVS also has southern offices in Houston, Atlanta and Miami) and continues to expand coverage in the gulf south region with the new office.
“We feel like everything is kind of interconnected in the region in terms of the hospitality industry, and New Orleans is really the center of it.” Since 2011, Lair noticed the boom in the hospitality industry, especially in The Big Easy with its important hotel market, a top tier convention market and, of course, its huge tourism market. For a medium sized city, “New Orleans is in a growth period.”
HVS has done work for a wide variety of clients, including lenders, developers and prospective buyers and sellers. In terms of New Orleans, new brands and new developers are trying to break into the market, says Lair, who pegs the local market as having a reasonable, solid growth at a stable level in the next sixth months to a year and beyond.
With those often times national brands and developers looking to enter the market, Lair explained that many are willing to accommodate for the unique roadblocks and organizations in New Orleans. “It’s a balance between preservation and progress.”