During the recession, occupancy rates fell, and hotels and motels shelved expansion plans and delayed openings, resulting in lower underlying demand for contractors specializing in hotel and motel construction. Occupancy rates and room rates have increased steadily since then, which has helped underpin rising demand for hotel expansions and new construction. As disposable incomes rise and consumers return to spending on hotel stays, demand for construction work on hotels and motels will continue to expand due to rising occupancy rates at existing accommodations.
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.