2012 HVS Hotel Cost Estimating Guide

Over the course of the past few years, performance in the lodging industry has risen steadily, if not sharply, with overall nationwide RevPAR increases generally ranging from 5% to 7% and going as high as 8.2% in 2011. However, this spike in performance has not necessarily translated into a flood of renovation or new build projects, at least not yet. Rather, much like the overall economy, it seems those industry professionals that depend on such activity are going to have to settle for slow and steady increases. For example, Smith Travel Research reported that in December 2011 there were 132 closed projects under renovation representing 14,475 closed rooms compared to December 2010, which had 119 closed projects and 11,070 closed rooms.

About HVS
HVS is the world's leading consulting and services organization focused on the hotel, restaurant, shared ownership, gaming and leisure industries. Founded in 1980, the company performs more than 2,000 assignments each year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. HVS is client-driven, entrepreneurial, and dedicated to providing the best advice and services in a timely and cost-efficient manner. Through a worldwide network of more than 30 offices and 400 seasoned industry professionals around the world, HVS provides and unparalleled range of complementary services for the hospitality industry.