The construction market for hospitality projects in Central Florida is hot. Hotel brands consider several key factors when deciding where to grow.
Online PR News – 03-May-2019 – Lake Mary, Florida – Central Florida is home to every major hotel chain in the country and with nearly 72 million visitors to Orlando each year, the Construction and renovation market for Hospitality projects is hot. When a national hotel brand is looking to expand there are many factors that go into selecting where to grow.
"A growing trend with our hospitality clients, is their focus on dedicating more square footage to community spaces that enhance the business travelers experience." Brian Walsh, President and CEO of The Collage Companies.
According to Visit Florida there are nearly 450,000 hotel rooms in the state. The Orlando region (includes Sanford and Kissimmee) accounts for nearly 30% of the total rooms with over 125,000 according to the hospitality industry Global. Hotel development activity correlates directly with the ebbs and flows of hotel-sector performance. Current statistics show that in 2017/ 2018, hotels in the United States operated at the highest occupancy and average rates ever recorded. (Source Statistica)
" Green Building continues to be a growing trend for all the major hotel brands we work with. They enjoy the double bottom-line benefit of LEED construction practices including energy savings and a positive public response to staying at a hotel that is environmentally responsible." Rob Maphis Vice President of Operations and COO at The Collage Companies.
Visit Orlando reports that in Central Florida, hotel demand is expected to rise 2.8% in 2019, factoring in projected currently in the pipeline to open in 2019 and 2020. Nearly 5,000 rooms are set to open in 2019. (Source Visit Orlando). Nationally and over the past five years, the Hotel Construction industry has grown by 7.4% to reach revenue of $16 billion in 2018. (Source IBIS World). Developers are pursuing hotel construction and redevelopment projects at rate not seen since 2006 and 2007. Visit www.collage-usa.com for more information and insights into the world of the hospitality construction industry in Central Florida.
The Collage Companies is an established integrated services firm with capabilities and expertise in Design Build, Construction Management, and General Contracting. Collage has served Florida and the southeast since 1982 from their headquarters in Lake Mary, Florida. Values of open book communication, win-win conflict prevention and integration of all team members, have resulted in a high percentage of repeat clients and multiple award-winning projects in both the public and private sectors. Collage pursues community-centric projects with an emphasis on green buildings in the hospitality, religious, transportation, education, government and parks and sports sectors.