Now rising in the Big Apple, the 70-story Central Park Marriott will be the tallest hotel in the Western Hemisphere when completed by CNY Group. The $200 million project, with structural engineering by WSP, reflects the generally upbeat mood in the hospitality market.
“Globally, hotel operating fundamentals are poised to remain strong in 2013,” says Mark Wynne-Smith, Global CEO of Jones Lang LaSalle’s Hotels and Hospitality Group. Despite some economic stressors, JLL believes supply and demand, availability of investment capital (especially from private equity funds), and REIT stock prices all point to “an attractive environment” for hotel business worldwide.
TOP HOTEL ARCHITECTURE FIRMS
2012 Hospitality Revenue ($)1 Gensler $69,090,0002 WATG / Wimberly Interiors $54,713,0003 HKS $32,000,0004 Leo A Daly $19,999,6215 RTKL Associates $19,730,0006 Hnedak Bobo Group $17,425,0007 Perkins Eastman $11,600,0008 Kohn Pedersen Fox Associates $11,251,8009 Cuningham Group Architecture $10,019,86510 HOK $10,011,000
TOP HOTEL ENGINEERING FIRMS
2012 Hospitality Revenue ($)1 AECOM Technology Corp. $100,190,0002 Parsons Brinckerhoff $28,900,0003 Buro Happold Consulting Engineers $16,165,0004 Rolf Jensen & Associates $7,600,0005 Thornton Tomasetti $7,218,7316 KPFF Consulting Engineers $6,000,0007 Arup $5,527,3718 Michael Baker Jr. $4,340,0009 Wiss, Janney, Elstner Associates $2,880,00010 WSP USA $2,696,642
TOP HOTEL CONSTRUCTION FIRMS
2012 Hospitality Revenue ($)1 Manhattan Construction $290,769,0002 Structure Tone $250,908,0003 Lend Lease $234,975,0004 Swinerton Builders $227,431,9505 Mortenson Construction $209,550,0006 Tutor Perini Corporation $209,216,1267 Brasfield & Gorrie $163,774,5588 Flintco $155,600,0009 Messer Construction $147,695,12810 Yates Cos., The $144,700,000
San Francisco, Los Angeles, Houston, Chicago, New York City, Hawaii, and Washington, D.C., are pinpointed as strong markets in the Americas (http://bit.ly/JLLHotels).
Adaptive reuse for hospitality is producing some particularly interesting remakes of historic properties. The strategy dovetails with travelers’ growing taste for local authenticity—a particular interest of Millennials, according to Tom Ito, Principal and leader for Gensler’s global hospitality practice. “For this generation, avoiding the norm is all about being true to yourself,” says Ito. “As this consumer group grows in spending power, hoteliers will need to provide personalized experiences that reflect the spirit of this demographic.”
Related Stories
Energy Efficiency | Aug 11, 2022
Commercial Energy Efficiency: Finally “In-the-Money!”
By now, many business leaders are out in front of policymakers on prioritizing the energy transition.
High-rise Construction | Aug 11, 2022
Saudi Arabia unveils plans for a one-building city stretching over 100 miles long
Saudi Arabia recently announced plans for an ambitious urban project called The Line—a one-building city in the desert that will stretch 170 kilometers (106 miles) long and only 200 meters (656 feet) wide.
| Aug 10, 2022
U.S. needs more than four million new apartments by 2035
Roughly 4.3 million new apartments will be necessary by 2035 to meet rising demand, according to research from the National Multifamily Housing Council (NMHC) and National Apartment Association.
| Aug 10, 2022
Gresham Smith Founder, Batey M. Gresham Jr., passes at Age 88
It is with deep sadness that Gresham Smith announces the passing of Batey M. Gresham Jr., AIA—one of the firm’s founders.
| Aug 9, 2022
Work-from-home trend could result in $500 billion of lost value in office real estate
Researchers find major changes in lease revenues, office occupancy, lease renewal rates.
| Aug 9, 2022
5 Lean principles of design-build
Simply put, lean is the practice of creating more value with fewer resources.
| Aug 9, 2022
Designing healthy learning environments
Studies confirm healthy environments can improve learning outcomes and student success.
Legislation | Aug 8, 2022
Inflation Reduction Act includes over $5 billion for low carbon procurement
The Inflation Reduction Act of 2022, recently passed by the U.S. Senate, sets aside over $5 billion for low carbon procurement in the built environment.
| Aug 8, 2022
Mass timber and net zero design for higher education and lab buildings
When sourced from sustainably managed forests, the use of wood as a replacement for concrete and steel on larger scale construction projects has myriad economic and environmental benefits that have been thoroughly outlined in everything from academic journals to the pages of Newsweek.
AEC Tech | Aug 8, 2022
The technology balancing act
As our world reopens from COVID isolation, we are entering back into undefined territory – a form of hybrid existence.