2013 ON TRACK AS RECORD YEAR FOR HOSPITALITY RENOVATIONS

摘要

This year will be a record-breaker for U.S. hospitality renovations, according to research by the Preston Robert Tisch Center for Hospitality, Tourism and Sports Management at New York University. Projected capital spending on hotel renovations is $5.6 billion for the year, beating the previous record of $5.5 billion set in 2008. Divisional Dean Bjorn Hanson of the Tisch Center forecasts that 20% of existing American hotel properties will be improved this year. Property management firms and investors have pulled the trigger after several years of holding back in a weak economy, says Hanson. Industry profits are pegged at a healthy $46 billion for 2013, and occupancy is at its highest level since 2007 (at press time, 71.1 %).