Looking forward, many factors will contribute to the construction growth. The Millennial generation has become a large client base and the biggest spender for the hospitality industry.<\/p>\n \u201cOn balance, there are a number of positive factors which suggest the construction expansion has room to proceed. The U.S. economy in 2017 is anticipated to see moderate job growth, market fundamentals for commercial real estate should remain generally healthy, and more funding support is coming from state and local bond measures. Although the global economy in 2017 will remain sluggish, energy prices appear to have stabilized, interest rate hikes will be gradual and few, and a new U.S. President will have been elected. For 2017, total construction starts are forecast to rise 5% to $713 billion. Gains of 8% are expected for both residential building and nonresidential building, while nonbuilding construction slides a further 3%.\u201d according to Dodge Data & Analytics<\/a><\/p>\n The key to a successful project is to stand out from the competitors. New construction and upgrades of existing properties will need to focus on high tech and ‘green’ construction. A key factor for continued growth will be to understand the demographics and achieving their needs.<\/p>\n Contact SWET Construction Group for a successful project with high returns on investment!\u00a0<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Hotel occupancy rates in Southeast U. S. is projected to reach record levels in 2017. With the\u00a0strong demand in the hospitality industry, investors are racing at the chance for a healthy return on investment. Stay Ahead of the Curve \u201cAverage room rates and occupancies are moving at record pace in those communities, and owners are… Continue reading Hospitality Construction in the Southeastern US on the Rise in 2017<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[107],"tags":[30,25,26,35,91,20],"_links":{"self":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/1845"}],"collection":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/comments?post=1845"}],"version-history":[{"count":6,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/1845\/revisions"}],"predecessor-version":[{"id":1851,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/1845\/revisions\/1851"}],"wp:attachment":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/media?parent=1845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/categories?post=1845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/tags?post=1845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"ThinkstockPhotos-480572827\"](\"http:\/\/www.swetconstructiongroup.com\/blog\/wp-content\/uploads\/2016\/07\/ThinkstockPhotos-480572827-300x199.jpg\")
\u201cAverage room rates and occupancies are moving at record pace in those communities, and owners are seeing that, developers are seeing that, and saying it\u2019s time to find a way to build something new,\u2019\u2019Jan Freitag, STR\u2019s Senior Vice President of Lodging Insights said in an article in USA Today<\/a>. \u201cEight out of ten rooms are being sold every night for 11 months in a row,\u2019\u2019 Freitag said. \u201cSo, developers are saying ‘yes, take an opportunity to go and take some of that demand. \u2019\u2019<\/p>\n