Hospitality Construction & Renovations in the Southeastern US
In January the hotel industry in the Southeastern United States experienced an increase in revenue per room. In fact 2017 was a record year. Those cities hosting major events such as sports, concerts, conventions, and theme park events, throughout the year saw the biggest leap.
Happenings grow big numbers, NFL’s Pro Bowl, Chick-fil-A Peach Bowl, the NAHB International Builders’ Show, Surf Expo, and Walt Disney World Marathon Weekend, just to name a few.
The Orlando Sentinel wrote the “revenue per room in January, climbing 14.1 percent to $107.07, according to the monthly report from STR climbing 14.1 percent to $107.07, according to the monthly report from STR. The Central Florida market had the second-biggest leap in average daily rate, an increase of 8.9 percent to $135.96. That trails only Super Bowl host Minneapolis-St. Paul, which recorded an ADR gain of 10.5 percent for $117.25.”
The Real Deal reporting, “Miami’s hotel industry had one of the strongest fourth quarters of any market in the country last year.”
“The industry started 2018 just like it ended 2017 — with each of the key performance metrics at record levels,” said Jan Freitag, STR’s senior vice president of lodging insights. “Supply grew at a healthy 2 percent again, but a 2.9 percent rise in demand was more than enough to counter that, even though it was the lowest demand growth figure in the U.S. since August.”
The Hospitality industry is growing faster than ever and recent studies show in the next decade it is expected to Boom! The hospitality business relies on the ability to achieve superior ratings from clients and guests. The guest experience relies on the construction and interior design for their success.
At SWET Construction Group we value our customers and minimize any surprises by continually working behind the scenes, foreseeing any problems and resolving them before they become big problems.
With over 66 years of combined experience, we build trusting relationships with our clients as well as our network of suppliers. Give SWET Construction Group the opportunity to show how we can increase your profits.