There is a lot of strategic research goes into the predictions for the 2018 hospitality construction. Credible expertise is vital and what SWET Construction Group focuses on when it comes to investing in the industry.
“The U.S. lodging industry will enjoy continued growth in all major metrics in 2018, albeit at a slower pace. Based on the recently released September 2017 editions of Hotel Horizons®, CBRE Hotels’ Americas Research is forecasting year-over-year increases in occupancy, average daily room rate (ADR), rooms revenue (RevPAR), total operating revenue, and gross operating profits (GOP) from 2017 to 2018.”
Occupancy levels and Profits
“As hotel owners and operators begin the process of preparing their 2018 marketing plans and budgets it is vital that they receive critical inputs on what will drive industry performance,” said R. Mark Woodworth, senior managing director of CBRE Hotels’ Americas Research (CBRE). “Based on our analysis of the economic and operating environments, we believe that U.S. hotels will once again achieve record occupancy levels and continued growth in profits, during the upcoming year.”
Foreseeable future will see sustained growth
“The market and operating metrics we are seeing at the top of this business cycle are quite remarkable given the 90-plus years our firm has been tracking the U.S. lodging industry. I understand why people are disappointed in the slow pace of growth. However, the fact that we are achieving such strong levels of occupancy and profit margins, combined with the positive economic outlook, makes us very comfortable forecasting sustained growth for the foreseeable future,” Woodworth concluded.
Construction of hotels and resorts are better, smarter, and more sophisticated than ever, from both the design standpoint and sustainability.
SWET Construction Group understands the dynamics involved in the hospitality construction. We are just as proud of our renovation projects as we are about our new construction.. We have earned the reputation of meticulous safety and site management, while staying on budget and minimal disturbance to ongoing operations.