Hotel Renovation is Back – Doing More with Less

The great recession of 2008-2009 was the biggest threat to the hotel industry in at least a generation; How bad was it? According to Jones Lang LaSalle, the US transaction volume plummeted to levels not recorded during the past 15 years, bottoming in 2009 to just $1.8 billion, compared to $45.7 billion just two years earlier.Likewise, revenue per available room RevPAR shrank to $53.71 in 2009, down from a peak of $65.62 in 2007. The ripple effect of hotel industry contraction slammed its suppliers and vendors just as hard.

via Hotel Renovation is Back – Doing More with Less. – Friday, 30th August 2013 at 4Hoteliers.

 

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