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Hotel Development Costs Escalating, HVS Survey Shows

Hotel Development Costs Escalating, HVS Survey Shows

Increases in development costs are affecting the feasibility of new hotel construction, according to the U.S. Hotel Development Cost Survey 2014/15 from HVS. Hotel construction costs have steadily escalated in the past three years in markets such as New York, ...

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Marriott Expects to Exceed One Million Rooms in 2015

Marriott Expects to Exceed One Million Rooms in 2015

DAVOS, SWITZERLAND, AND BETHESDA, Md.—Marriott International, Inc. said today that it expects its portfolio of hotels either open or under development to surpass one million rooms by the end of 2015. When open, the hotels under development will have generated ...

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Market Boasts Near Perfect Conditions for Development

Market Boasts Near Perfect Conditions for Development

Favorable economic conditions, record-setting operating metrics, and a positive outlook for the next few years have combined to make this an opportune time for hotel developers. The hotel construction pipeline surged forward to a five-year high in Q3 with 3,516 ...

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Thompson Miami Beach Opens

Thompson Miami Beach Opens

MIAMI BEACH, Fla.—Thompson Hotels has announced the official opening of its namesake property in the Miami market and the flagship for the brand: Thompson Miami Beach, located at 4041 Collins Avenue. The 380-room upscale beachfront property offering an estimated 47,000 ...

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La Quinta Adds Seven Hotels, Marks 500th Franchise Property

La Quinta Adds Seven Hotels, Marks 500th Franchise Property

IRVING, Texas—During the third quarter, La Quinta Inns & Suites opened seven new hotels totaling more than 600 rooms and marking its 500th franchise property. The new properties are located in O’Fallon, Ill.; Paducah, Ky.; Billings, Mont.; Glendive, Mont.; Denison, ...

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