2018 is predicted to be a great year for the hospitality industry, especially in the Southeastern United State.
States such as Florida, Georgia, North and South Carolina area where people from all over the globe to vacation and enjoy their holiday.
CBRE predicts the hospitality industry for 2018 will be lucrative. “The U.S. lodging industry will enjoy continued growth in all major metrics in 2018, albeit at a slower pace [than 2017].”
Kermit Baker, the AIA Chief Economist, has a very optimistic outlook for the hospitality industry for 2018. With a strong increase in spending, 2017 is up over 6% from 2016.
While some experts anticipate a more moderate growth for 2018, others expecting a 4% growth in hotel construction.
“Disruption from home rental sites and alternative accommodations remains relatively small in the grand scheme of the global lodging sector. Home rental sites and the alternative accommodations market account for approximately 10% of hotel room bookings in the top global gateway markets such as New York, London and Paris,” according to calculations by JLL.
While new construction projects and renovation of existing buildings, in the hospitality industry are definitely worth the investment. They all have a unique infrastructure and a detailed set of performance requirements.
The contractor you choose for your project should be experienced and capable of handling your type of project. Completing the job in a professional, cost-effective and efficient manner as possible plays a crucial role in the total success.
Longevity and experience is a key component with large-scale construction and renovation. This will enable them to troubleshoot any issues, offer functional and creative ideas and suggest turnkey solutions.
Building owners and managers rely on SWET Construction Group
As a leader in the industry, SWET Construction Group we understand the current trends and partner with managers and owners to give our clients the edge over the competition. Our offices throughout the Southeastern United States are committed to building quality relationships with our clients and create living environments, families want to live while protecting construction cost.
SWET Construction Group is a leader in the industry for big construction projects, cutting edge building technology and the latest trends, don’t hesitate to call us 321-594-5569, for your next project.