Hotel Construction in the US - Industry Market Research Report

Hotel Construction in the US - Industry Market Research Report

  • March 2020 •
  • 34 pages •
  • Report ID: 5103658 •
  • Format: PDF
Building up: Rising disposable income and overall economic improvement will aid demand

Abstract

Hotel Construction
The Hotel Construction industry has experienced steady and strong growth over the five years to 2018. In 2018, activity within the industry is still up, but room construction figures have dipped in the first half of the year. The industry returned to growth early in 2013, led by building booms in New York and other major cities, as well as rising occupancy rates at hotels across the nation. Positively reinforced sentiments regarding the country’s economy and its outlook supported these booms during the subsequent years of the five-year period.Growth in the Hotel Construction industry is expected to cool substantially over the five years to 2023. Rising disposable income as the economy continues to recover will underpin greater demand for accommodation services, resulting in increased expansion efforts for hotel and motel construction. Moreover, international travel to the United States is expected to continue growing strongly, resulting in increased demand for hotels and motels. These underlying factors will support greater remodeling spending and renewed construction activity for new hotels and motels, benefiting industry operators.

Operators and contractors in the Hotel Construction industry engage in new construction, addition, reconstruction and maintenance projects for accommodation establishments. These establishments range in size, but largely comprise hotels, motels, resorts and related structures.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Loading...

We are very sorry, but an error occurred.
Please contact support@reportbuyer.com if the problem remains.