In October we wrote about how commercial lending is up for real estate projects. Now, just recently released figures show construction spending for the U.S. hotel market is way up. According to U.S. Census Bureau data, spending in the hotel industry through July was up nearly 30% to $15.2 billion. Furthermore, architecture firms are also [...]
After years of delaying capital expenditures, hotel companies are now taking the opportunity to renovate their properties. In fact in 2012, we saw more hotels renovating lobbies, restaurants, bars and fitness centers, and this trend will continue into 2013. Also, with the volume and scope of renovations increasing, large and small contractors that provide products and services [...]
Travel and hospitality is the world’s largest industry, with the World Travel and Tourism Council predicting revenues in excess of $15 trillion by 2017. Over 50% of all travel reservations are now made online, including hotel reservations, with data collected and stored that may include: names, addresses, personal email addresses, and of course, financial data [...]
