The hotel industry in the Southeastern United States can anticipate continued performance growth through 2017, according to Hotel News Now and the STR and Tourism Economics’ most recent forecast at the NYU International Hospitality Industry Investment Conference.
“With rising room rates and record occupancy levels, many developers are able to get better financing terms, and more projects either are beginning construction or reaching the final planning phase in the development pipeline,” said John Corgel, Ph.D., professor of real estate at the Cornell University School of Hotel Administration. “Fortunately, demand continues to outpace supply throughout most of the country, and the new construction is not yet a cause for alarm.”
The occupancy rate is projected to remain high, spurring the demand for future construction of investment properties to meet the high demand in the Southeastern United States.
“No matter what hotel performance indicator you look at for any type of hotel, we foresee extremely favorable movements the next few years,” said Woodworth president of PKF-HR.. “That will result in an extended period of peak performance for all participants in the U.S. lodging industry.”
The increase in demand and rise in occupancy rate through 2017 and beyond, is good news for investors. The industry is expected to have a strong profit growth trend.
Investing in the hospitality industry in the Southeastern United States, relies on growth, yield, location, and a specialized construction group. The high return on investment makes this industry one of the hottest investments in the real estate market.
SWET Construction Group has a successful track record of developing premium independent and branded resorts and hospitality assets. From renovations of existing properties to new development, we offer a blend of development services to enhance the value and maximize your return for your project.
Contact SWET Construction Group for your next project in Southeastern U.S.