The effect of new hotel supply on construction

National Report – According to the Hotel Development Cost Survey 2013/14 released by HVS, the development of full-service hotel properties could see a resurgence with the assistance of public financial support. Continued economic recovery in the U.S. has prompted the development of both full and select-service hotel projects with expected economic benefits to choice local areas.

Public subsidies are available specifically for less traditionally feasible full-service hotels, often taking advantage of existing or proposed convention centers with the goal of influencing greater development in the future.

Additionally, conversions where more rooms are added are often glossed over, and the net change in the number of hotel rooms for a given area is important for evaluating the impact of construction on new supply.

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Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

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