Hotel Development Insider

NEWS AND UPDATES FROM THE HOTEL DEVELOPMENT INDUSTRY
  • Zeke C. Cooper

HVS releases 2018/19 Hotel Development Cost Survey

Updated: Oct 11, 2019

A couple of weeks ago HVS released their new US Hotel Development Cost Survey 2018/19, by Luigi Major. Here are five of our takeaways from the survey:


1. 2018 saw the highest occupancy and ADR ever recorded 2. The growth of the US GDP help generate increases in hotel demand 3. Material prices have increased nearly 10% YoY 4. Over the next 3 years, 65% of hotels opening will be Upper-Midscale or Upscale 5. The average development costs for Full Service hotels is $396,000!


Here's a link to the full report:

https://www.hvs.com/article/8597-us-hotel-development-cost-survey-201819


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