Hotel business continues to shine [2013 Giants 300 Report]

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

SEE FULL LIST

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

SEE FULL LIST

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

SEE FULL LIST

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.”