If you plan on getting into the hotel business or thinking about renovating your existing hotel, now is the time! Occupancy rates for 2017 are predicted to be at record levels. Room rates are also expected to increase with the high demand.
“U.S. hotel occupancy will remain at record levels through 2017 according to PKF Hospitality Research | The good news flows through to the bottom line, as well. With ADR gains contributing 80 percent of the RevPAR growth, PKF-HR also is forecasting net operating income increases exceeding 10 percent through 2017. This current seven-year, strong profit growth trend also is an all-time record.”
Hotel Design and Trends
Hotel construction and design focused around the lifestyle of Millennials, mobile workers, and business leisure travelers. Meeting the needs of guests demands and distinguishing their brand, from a top of the line amenities, technology, ambiance, lighting, acoustics, and of course, a good night’s sleep.
The new trend of providing guests with a lifestyle, encouraging guests to step outside their hotel room and socialize and experience what they have to offer. This also keeps them coming back year after year.
Incorporating sustainable practices, personalized service, world class accommodations, and aesthetic beauty is something today’s travelers and the next generation of travelers will expect as the standard of luxury. It is estimated the middle class travelers will increase to 3.2 billion by 2020.
Partnering with the right construction group can make all the difference!
The right design and construction can determine the return on investment. As travelers continue to evolve, you need a construction group with a heighten awareness of their consumption. Creating innovative environments designed with the wellness of the traveler and preservation of our earth in mind.
The team at SWET Construction Group make buildings work smarter and more livable, optimizing business performance.