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Hotel Construction in the US - Industry Market Research Report

Publisher IBISWorld
Published Apr 02, 2024
Length 38 Pages
SKU # IBSS18692170

Description

Hotel Construction in the US - Industry Market Research Report


Hotel Construction in the US

Hotel construction contractors engages in new construction, addition, reconstruction and maintenance projects for the accommodation sector. Through the end of 2023, hotel construction contractors benefited from an increase in demand for services. Amid rising occupancy rates at hotels in the US, along with relatively low interest rates and rising consumer spending, construction projects for the accommodation sector came on line. Still, despite prosperous industry performance for most of the five-year period, the hampering economic effects of the COVID-19 pandemic significantly muted industry revenue growth. Due to this, hotel construction revenue has been inching upward at a CAGR of 0.3% over the past five years and is expected to total $26.4 billion in 2023, when revenue will jump by an estimated 1.9%. Revenue will jump 2023 as the economy continues to recover and construction projects renew. Still, industry profit will decline as labor costs have outpaced revenue.

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

Table of Contents

38 Pages
TABLE OF CONTENTS

ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

Pricing

Currency Rates
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