Hoteliers will spend big on improvements in 2013, Hanson says

The Los Angeles Times reports this morning that according to Bjorn Hanson, dean at NYU's Preston Robert Tisch Center for Hospitality, Tourism and Sports Management, hotels will spend $5 billion on improvements in 2013, which represents a 33-percent increase over 2011 spending.

The story cites Hanson's latest research on the acceleration of capital expenditures.

Hanson told the paper 2013's projected spending still won't hit the peak for $5.5 billion in spending in 2008, but that renovation improvements account for most of the spending--particularly in lobbies and public spaces.


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