The strong demand for hospitality developments<\/strong><\/p>\n \u201cRoom demand is at an all-time high,\u201d says Freitag. \u201cThe U.S hotel industry\u2014through August\u2014has sold more rooms than ever before.\u201d<\/p>\n Demand is expected to continue to grow in 2017 and 2018. That\u2019s because the U.S. economy is still relatively strong. \u201cAs long as the U.S. gross domestic product is in the 2-percent range, we do not see growth slowing down,\u201d Freitag notes.<\/p>\n Our economy remains strong and is anticipated to remain this way, giving new construction room to expand. Investors are likely to expect healthy returns on their investment.<\/p>\n \u201cI am still surprised that the amount of construction taking place is relatively modest, given how strong fundamentals are,\u201d says Jeff Myers, managing consultant for CoStar Portfolio Strategy. \u201c<\/p>\n \u201cWe do not see a slowdown in the U.S. pipeline of hotel properties in development,\u201d says Freitag.<\/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.<\/p>\n As an industry leader in the Southeastern United States, SWET Construction Group offers complete interior and exterior finish packages. We halide all aspects of renovations and repair services, including disaster repair, from demolition to finishes.<\/p>\n Contact SWET Construction Group for your next project.<\/a><\/strong><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Great news for developers and investors, the hospitality industry is in high demand! and reaching new heights! \u201cThe continued strength in room demand surprised on the upside,\u201d says Jan Freitag, senior vice president of lodging insights for data firm STR. The strong demand for hospitality developments Hotel room rates are higher than ever and keep… Continue reading Hotel & Hospitality Construction, Renovations & Investment Opportunities<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108],"tags":[69,86,30,78,34,25,24,22,20,102],"_links":{"self":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/2166"}],"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=2166"}],"version-history":[{"count":10,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/2166\/revisions"}],"predecessor-version":[{"id":2178,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/2166\/revisions\/2178"}],"wp:attachment":[{"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/media?parent=2166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/categories?post=2166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/tags?post=2166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"http:\/\/www.swetconstructiongroup.com\/blog\/wp-content\/uploads\/2017\/02\/ThinkstockPhotos-480867332-300x258.jpg\")
Hotel room rates are higher than ever and keep rising, while occupancy rates for the last year, ending in the second quarter of 2017,\u00a0are moving at record pace. Averaging\u00a0out to eight of ten rooms being occupied every night. Leaving\u00a0plenty of room for new developments, while recent construction is being easily absorbed.<\/p>\n