With renewed sources of capital, hotel owners, operators and brands are investing again—seizing the opportunity to keep properties fresh and to stay competitive. Cautious optimism reigns and budgets remain tight, so properties must prioritize spending to maximize ROI. These are some of the updates hotels are (or should be) spending money on.
Restored consumer confidence and business spending is bringing capital back to the hotel market sooner than many anticipated. Global and Irish hotel revenue per available room (RevPAR) is on the rise.
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