In early 2012, the Hotel Construction industry began its recovery, led by building booms in New York and rising occupancy rates at hotels across the nation. In the years since, industry revenue has grown at a staggering pace, outgrowing the overall nonresidential construction sector and many of its subsectors. In coming years, the industry is poised to finish a strong, but slowing recovery. 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, domestic travel within the United States is expected to accelerate, 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.