flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Hotel business continues to shine [2013 Giants 300 Report]

Hotel business continues to shine [2013 Giants 300 Report]

Despite some economic stressors, hotel operating fundamentals are poised to remain strong in 2013.


By Julie Higginbotham, Senior Editor | July 22, 2013
The Weitz Company recently completed a renovation of the Breakers Beach Club, a
The Weitz Company recently completed a renovation of the Breakers Beach Club, a recreation and restaurant facility that is part of The Breakers of Palm Beach (Fla.) resort. The project, originally built by Weitz in 1999, was upgraded with five new high-end cabanas, a new storefront system providing ocean views from the dining room, and a modern beach bar. Photo: CJ Walker Photography

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 $69,090,000
2 WATG / Wimberly Interiors $54,713,000
3 HKS $32,000,000
4 Leo A Daly $19,999,621
5 RTKL Associates $19,730,000
6 Hnedak Bobo Group $17,425,000
7 Perkins Eastman $11,600,000
8 Kohn Pedersen Fox Associates $11,251,800
9 Cuningham Group Architecture $10,019,865
10 HOK $10,011,000

TOP HOTEL ENGINEERING FIRMS

 
2012 Hospitality Revenue ($)
1 AECOM Technology Corp. $100,190,000
2 Parsons Brinckerhoff $28,900,000
3 Buro Happold Consulting Engineers $16,165,000
4 Rolf Jensen & Associates $7,600,000
5 Thornton Tomasetti $7,218,731
6 KPFF Consulting Engineers $6,000,000
7 Arup $5,527,371
8 Michael Baker Jr. $4,340,000
9 Wiss, Janney, Elstner Associates $2,880,000
10 WSP USA $2,696,642

TOP HOTEL CONSTRUCTION FIRMS

 
2012 Hospitality Revenue ($)
1 Manhattan Construction $290,769,000
2 Structure Tone $250,908,000
3 Lend Lease $234,975,000
4 Swinerton Builders $227,431,950
5 Mortenson Construction $209,550,000
6 Tutor Perini Corporation $209,216,126
7 Brasfield & Gorrie $163,774,558
8 Flintco $155,600,000
9 Messer Construction $147,695,128
10 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

Multifamily Housing | Apr 26, 2017

Multifamily amenity trends: The latest in package delivery centers

Package delivery centers provide order and security for the mountains of parcels piling up at apartment and condominium communities.

Multifamily Housing | Apr 26, 2017

Huh? A subway car on the roof?

Chicago’s newest multifamily development features an iconic CTA car on its amenity deck. 

High-rise Construction | Apr 26, 2017

Dubai’s newest building is a giant gilded picture frame

Despite currently being under construction, the building is the center of an ongoing lawsuit filed by the architect.

Architects | Apr 25, 2017

Two Mid-Atlantic design firms join forces

Quinn Evans Architects and Cho Benn Holback + Associates have similar portfolios with an emphasis on civic work. 

BIM and Information Technology | Apr 24, 2017

Reconciling design energy models with real world results

Clark Nexsen’s Brian Turner explores the benefits and challenges of energy modeling and discusses how design firms can implement standards for the highest possible accuracy.

Higher Education | Apr 24, 2017

Small colleges face challenges — and opportunities

Moody’s Investor Service forecasts that closure rates for small institutions will triple in the coming years, and mergers will double.

Healthcare Facilities | Apr 24, 2017

Treating the whole person: Designing modern mental health facilities

Mental health issues no longer carry the stigma that they once did. Awareness campaigns and new research have helped bring our understanding of the brain—and how to design for its heath—into the 21st century.

Architects | Apr 20, 2017

Design as a business strategy: Tapping data is easier than you think

We have been preaching “good design matters” for a long time, demonstrating the connection between the physical environment and employee satisfaction, individual and team performance, and an evolving organizational culture.

Architects | Apr 20, 2017

‘Gateways to Chinatown’ project seeks the creation of a new neighborhood landmark for NYC’s Chinatown

The winning team will have $900,000 to design and implement their proposal.

boombox1
boombox2
native1

More In Category


Urban Planning

Bridging the gap: How early architect involvement can revolutionize a city’s capital improvement plans

Capital Improvement Plans (CIPs) typically span three to five years and outline future city projects and their costs. While they set the stage, the design and construction of these projects often extend beyond the CIP window, leading to a disconnect between the initial budget and evolving project scope. This can result in financial shortfalls, forcing cities to cut back on critical project features.



Libraries

Reasons to reinvent the Midcentury academic library

DLR Group's Interior Design Leader Gretchen Holy, Assoc. IIDA, shares the idea that a designer's responsibility to embrace a library’s history, respect its past, and create an environment that will serve student populations for the next 100 years.

halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021