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Hotel Report

Hotel Report

Destination boom keeps outlook bright for hospitality market


August 11, 2010
This article first appeared in the 200807 issue of BD+C.

Hotel construction just keeps booming. Job site spending has more than quadrupled since the beginning of 2004 and is 42% above a year ago.

However, Reed Construction Data reports that the growth of new project activity is slowing from a 70% pace in 2006 to 10-15% in 2007-09. The huge increase in 2006 was for large destination hotels to serve the strong U.S. economy and foreign tourists attracted by the falling U.S. dollar. This added demand for hotel rooms is being sustained during the current economic slowdown but is no longer accelerating.

Hotel development is expected to continue to increase in tight markets like New York City, but will slow significantly in 2008-09 in markets that rely on domestic business and budget consumer travel.

Top 20 hotel design firms
(2007 billings in $ millions)

Company Billings
Source: 2008 Giants 300 survey Note: This ranking is based on firms that made the Giants 300 list.
1. HKS 81.52
2. AECOM Technology Corp. 76.17
3. Gensler 73.50
4. Wimberly Allison Tong & Goo 64.59
5. Arup 44.00
6. Leo A Daly 26.67
7. BBG-BBGM 22.50
8. OZ Architecture 22.44
9. Parsons Brinckerhoff 21.92
10. Jacobs Engineering Group 19.67
11. BLT Architects 17.29
12. X-nth 17.06
13. Smallwood, Reynolds, Stewart, Stewart 16.00
14. Martin Associates Group 14.92
15. Arquitectonica 14.56
16. NBBJ 14.34
17. RMJM 14.26
18. HOK 14.23
19. DeSimone Consulting Engineers 13.20
20. EwingCole 12.84

Top 20 hotel contractors
(2007 construction value put in place in $ millions)

Company Value put in place
Source: 2008 Giants 300 survey Note: This ranking is based on firms that made the Giants 300 list.
1. Yates Cos., The 1,143.41
2. Turner Corp., The 564.01
3. PCL Construction Enterprises 530.90
4. Hunt Construction Group 460.00
5. Hensel Phelps Construction 403.09
6. Swinerton 400.40
7. Structure Tone 333.43
8. Flintco Cos., The 314.40
9. McCarthy Holdings 295.27
10. Webcor Builders 263.63
11. Holder Construction 245.80
12. M. A. Mortenson 234.88
13. Skanska USA Building 200.00
14. Walton Construction 189.28
15. Balfour Beatty Construction 187.12
16. Suffolk Construction 182.96
17. Pepper Construction Group 168.42
18. Dick Corp. 167.04
19. Walsh Group, The 165.20
20. Manhattan Construction 154.34

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