Vision and Value: New Builds and Conversions Require Cost Sensitivity Along With Creativity
Hotel construction and design have always involved balancing numerous considerations, including brand identity, the latest guest expectations, local flair and authenticity, and sustainability. But more recently, costs and timelines have become especially prominent factors, given escalating prices for building services, supply chain disruptions, and staffing shortages. According to recent data from STR, these obstacles have slowed U.S. hotel development, with the first half of 2022 showing new openings 50 percent behind the same period last […]
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