Dive summary:
- While the construction industry saw work for the hotel industry pretty much dry up and blow away in the recession, the winds of economic recovery are blowing life back into the sector and offering construction opportunities in the markets where investors see promise.
- One piece of the hotel market that has been seeing growth is what are called select-service hotels, facilities that have about 300 rooms and do not pour a lot into bells and whistles.
- The drawback for contractors is that having a track record with a hotel developer or experience in the industry and knowing its need for consistency and repetition are often necessary to get jobs, which is no help to firms trying to break into the limited market.
From the article:
Though select-service hotels may be the most prevalent, luxury hotels are a hot market that is notoriously hard to enter. ...