Industry Update
Opinion Article10 July 2013

2013 Hotel Cost Estimating Guide

By Jonathan Nehmer

share this article
1 minComments
Nehmer

For the past several years the conversation around tables at hotel industry functions has focused on downturns, high construction costs, a lack of financing, less-than-ideal average daily rate and finally, a slow and steady recovery. The good news: The lodging industry has turned the corner for the most part when it comes to fundamentals. Hotel demand is at an all-time high while supply growth remains low, according to STR, and revenue per available room growth is catching up—and in some cases surpassing— 2007 record highs. While ADR (U.S. average ADR was $107 in February 2013, according to STR) has not reached former peak levels, particularly when inflation factors in, most data show RevPAR driven by ADR instead of occupancy, a definite change from years past.

Dedicated to the principles of innovation, excellence, and service, HVS Design takes a pioneering approach to the interior design process, blending the creativity and imagination of experienced hospitality designers with the attention to detail and constructability learned from the disciplines of architecture and project management. We strive to provide the finest design solutions and accurate and timely specifications and budgets. We understand how time and money maximize an owner's return on investment. We are committed to defining and exceeding our clients' goals. Our team concept results in designs that are aesthetically appropriate and operationally responsive to all intended uses. This approach allows us to present an original, creative design based on the client's specific needs and requirements. www.hvsdesignservices.com

Related Document

2013 Hotel Cost Estimating Guide | Jonathan Nehmer

For the past several years the conversation around tables at hotel industry functions has focused on downturns, high construction costs, a lack of financing, less-than-ideal average daily rate and finally, a slow and steady recovery.
Download document (1 MB)

Jonathan Nehmer

    More from Jonathan Nehmer

    About HVS

    HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

    Latest News
    Advertisements