Industry Update
Opinion Article10 July 2013

2013 Hotel Cost Estimating Guide

By Jonathan Nehmer

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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.

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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.
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Jonathan Nehmer

Mr. Nehmer is a licensed architect with expertise in all facets of architecture and interior design, design management, project management, and construction administration. His 20 years of experience includes work as an owner's representative in the direction and management of commercial, institutional, residential, and hospitality projects.

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    About HVS

    HVS is a leader in global hospitality financial consulting. Hotel owners, developers, investors, lenders, management companies, and public agencies around the world rely on HVS to make informed business decisions. HVS's commitment to excellence and unrivalled hospitality intelligence is delivered by more than 300 people in over 50 offices throughout the world who specialize in a wide range of hospitality assets including hotels, restaurants, casinos, shared ownership lodging, mixed-use developments, spas, and golf courses, as well as conventions, sports, and entertainment facilities. For more information about HVS visit https://hvs.com.

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