Developers, think about this: Building, from start to finish, in just seven months, a $10-million modular hotel. Sounds pretty good, huh? Well, in Australia, this is the type of hotel getting done. In this case, a Quality Inn from Choice Hotels International.
AFR has a fascinating article on cheaper construction techniques—like modular and prefabrication—that is allowing projects to get financed and built. You can read the entire article here.
The Quality Inn mentioned above is, as AFR reports, the first modular-constructed hotel in Australia fully-funded by an Australian bank (the Commonwealth Bank).
Modular hotels are "significantly cheaper" than a traditional hotel to build, Trent Fraser, Asia Pacific CEO of Choice Hotels, told AFR.
Modular construction is also gaining popularity in the U.S. NewcrestImage, a hotel development, construction and management firm, partnered with Guerdon Modular Buildings, manufacturer of modular construction projects, to used modular construction to build a 142-room AC Hotel in Oklahoma City.