Hospitality Finishes’ Post

"In a subsequent interview with Daily Hive Urbanized, Cayan Pacific Management project lead Kevin McNaney stated that the hotel space component could provide up to 2,000 hotel guest rooms, depending on the final room size mix." "According to an early 2023 report by local tourism bureau Destination Vancouver, it is estimated that Metro Vancouver needs an additional 20,000 hotel rooms: 10,000 within Vancouver and 10,000 in other parts of the region. The shortage is expected to start during the peak season in 2026 within Vancouver and then extend to other times of the year and other areas of the region in the following years. It is also important to note that this shortage is likely more severe now, as these hotel room estimates were made before the provincial government’s new policies limiting short-term rentals, such as Airbnb. 'That’s 10% of the regional demand that we can accommodate on our site, right beside Vancouver International Airport, onto SkyTrain stations, right by downtown Richmond, and 15 minutes by train from all of the amenities and convention space of downtown Vancouver,'" "Up to 2,000 hotel rooms are planned across all three phases of the redevelopment, with McNaney highlighting that the first phase is primarily designated for hotel uses. Additionally, there could be even more hotel rooms if the office and institutional spaces are converted to hotel space, based on market demand." "The plan is to offer a range of hotel types, including high-end luxury hotels, four-star business hotels, and three-star tourist hotels." "the first phase will generate about 1.62 million sq ft of floor area or half of the entire project." "The first phase of 1.6 million sq ft of floor area could potentially be built in the next four to five years." https://lnkd.in/gTq2MJDV

The volume of U.S. hotel rooms under construction reached its highest level in 16 months, according to CoStar’s latest June 2024 data. CoStar, a leading provider of real estate information and analytics, reports this surge as a promising sign for the construction and hospitality sectors. #HotelConstruction #Hospitality #Hotels #ConstructionIndustry #MarketGrowth

*Felix Lane* I will share my insights based on my experiences with Short-Stay properties versus Hotels. Staying at a short-stay property (such as an Airbnb, vacation rental, or serviced apartment) compared to a hotel comes with several differences. Here are some key contrasts between the two: 1. Space and Layout Short-Stay Property: Typically offers more space, with options like entire apartments, houses, or condos. These may include multiple rooms, a kitchen, and living areas, offering a more home-like experience. Hotel: Generally consists of a single room with an ensuite bathroom, though larger suites are available in some hotels. The layout is often more compact and designed for shorter stays. 2. Amenities Short-Stay Property: Often includes full kitchens, laundry facilities, and sometimes outdoor spaces (like gardens or patios). However, the level of amenities can vary greatly depending on the property. Hotel: Hotels usually offer more standardized amenities like daily housekeeping, room service, restaurants, pools, gyms, and spas. Luxury hotels often provide concierge services, business centers, and more. To be continued.............

Renovating hotel rooms is crucial for maintaining competitiveness and ensuring guest satisfaction. Updated rooms can enhance comfort, aesthetics, and functionality, meeting modern travelers' expectations and needs. Renderings play a vital role in hotel renovation and redesign by offering realistic visualizations of proposed updates, helping stakeholders align on the design vision and detect layout issues early. This ensures smoother project execution and minimizes costly changes. Renderings are also powerful marketing tools, attracting guests and investors by showcasing the new look before construction finishes. Renovations are essential for staying competitive and meeting modern travelers' expectations by enhancing comfort, aesthetics, and functionality. They also address wear and tear, keeping the property appealing and safe, which drives higher occupancy rates and positive reviews. https://lnkd.in/dwb2Bi_2

The U.S. hotel construction market saw record highs in the first quarter 2024. According to Lodging Econometrics, more than 6,000 hotel projects are being worked on nationwide, an all-time high. Read on. #constructionmarket #hotelprojects

#LatinAmerica Hotel Construction Pipeline Expands with 11% YOY Growth – Updated New Openings Forecast The Q2 2024 report by Lodging Econometrics highlights an 11% YOY growth in Latin America's #hotel #construction pipeline, totaling 612 projects (97,597 rooms). Key segments include upscale, upper upscale, and luxury. Mexico and Brazil lead, with over half the region's projects. Renovation and conversion projects have surged by 30% YOY. New hotel openings are set to reach 100 in 2024, with steady growth forecast through 2026. The region's #hospitality sector shows strong expansion, supported by increased construction activity and rising renovation efforts, indicating a positive trajectory for the coming years. "#Lateinamerika: Mehr als 600 #Hotelprojekte im Bau" » latinapress Nachrichten https://lnkd.in/dqDgaeab

UNSTOPABLE BOOM IN ULTRA-LUXURY HOTELS IN LONDON   RAFFLES Old War Office The OWO building has undergone a £1.4 billion renovation and opened as the luxury Raffles Hotels & Resorts OWO hotel. Room rates at the 120-room hotel starts at £1,100. Most of the Raffles OWO’s guests come from the US, followed by the UK, and then Saudi Arabia, France and Australia. A leader from the UAE stayed recently. Visitors can easily spend £800 on a meal in the restaurants.   PENINSULA HOTEL The new 5-star The Peninsula Hotels cost £1 billion to build (excluding the cost of the site) also opened in 2023, a short walk from Hyde Park on the edge of Belgravia. It is so expensive that bankers won’t even go there for breakfast. Rooms start from £1,300.   INTERNATIONAL LUXURY BRANDS Waldorf Astoria Hotels & Resorts, Rosewood Hotel Group, St. Regis Hotels & Resorts and Six Senses Hotels Resorts Spas all have hotels in the pipeline. Mandarin Oriental Hotel Group Oriental has two hotel projects in the pipeline. Claridge's is opening a sister hotel in April 2024. Lodging Econometrics: 11 Luxury hotel projects in the pipeline. London has more luxury hotels under construction than any other European city. They are getting more expensive - £1,000 per night is now the norm. CoStar UK: The cost of a typical room in a luxury hotel in London has risen by 111% since 2009.   London’s luxury hotel boom is driven by the world’s super rich. UBS: The number of so-called “ultra-high net worth” people with wealth of $50m (£39.5m) or more is forecast to hit 372,000 by 2027, almost ten times as many as there were in 2000. There are now more than 2,500 billionaires in the world who between them hold $12 trillion. The Dorchester is completing a renovation that will see room prices start from £1,200. The Lanesborough, which is next door to the new Peninsula but has been open since 1991, revenues surged by 12pc to hit a record high in 2023. A butler is assigned to every room at The Lanesborough.   The London glitz is in stark contrast to the wider UK economy, which has been hammered by the cost of living crisis and likely tipped into recession in the second half of the year. London is a good city for the super-rich, more at ease with wealthy people than other European capitals. To the world’s ultra-wealthy, London is merely another European capital to frolic in – hardly a part of Britain at all. #luxuryhotels #ultraluxury #hoteldevelopment #hotelinvestment #londonrealestate #londonhotels

Whitbread Set to Build One of London’s Largest Budget Hotels Near Trafalgar Square Whitbread PLC, the UK’s largest hotel operator and owner of Premier Inn, has secured planning permission to develop a 693-bedroom hotel at 5 Strand, just metres away from Trafalgar Square and Nelson’s Column. The new development, approved by Westminster City Council, will be one of London’s largest budget hotels and will operate under Whitbread’s hub by Premier Inn brand. This prime site acquisition is part of Whitbread’s strategy to expand its footprint in London, where a large portion of its future hotel room pipeline is focused. The £200 million-plus investment, which covers construction and related costs, highlights Whitbread’s commitment to bringing affordable accommodation into the heart of the capital and other major UK cities. Mark Anderson, Whitbread’s Managing Director for Property and International, commented: “The hub by Premier Inn brand was launched 10 years ago in St. Martin’s Lane, not far from this new site. Since then, it’s grown into a network of 18 popular hotels across Central London and Edinburgh. The development at 5 Strand showcases how we can evolve the brand in London’s core and leverage our strong balance sheet to secure high-demand, accessible locations. With planning approved, we’re eager to start construction and create a flagship location for our guests.” Whitbread has been making significant investments in London to address the shortage of branded budget hotel rooms. https://lnkd.in/ewSE6He3

🏨 A Thriving Hotel Fit out Sector Positive signs are on the horizon for the UK hotel industry, with significant increases in activity since Q1 2023. According to Cushman & Wakefield, Q1 2024 saw UK hotel investors transact approximately £1.7bn in real estate, marking a remarkable 138% surge compared to the same period last year. Key highlights from the report: 🔹 Ninety-three properties across the UK, approximately 7,600 rooms, were transacted. 🔹 Two major portfolio deals—the Edwardian UK Radisson Hotel Portfolio and the LXi REIT Travelodge Portfolio—comprised 60% of the transaction volume. 🔹 London dominated major deals by volume, constituting 60% of transactions, with notable sales including Atlas House and the iconic BT Tower. The state of the market looks promising, with continued positive sentiment supported by increased consumer confidence and projected leisure demand growth of 6% this year. While hotel supply growth is expected to continue, it's forecasted to slow down compared to previous years, with approximately a staggering 24,000 rooms still under construction UK-wide. Me and my Father Darin have predominantly been supplying temporary trades, labour, and management to the construction hotel fit-out industry for over 30 years, these developments present exciting opportunities for us and our clients. With increased activity in hotel construction and investment, there's a growing demand for skilled Fit out and Construction professionals to drive these projects forward. If you're seeking opportunities or looking to expand your own Construction teams to capitalise on this upward trend in the hotel sector please do get in touch, we will have a Solution.

Innovative design is crucial in enhancing asset performance in today's competitive landscape. We can creatively transform dead spaces into valuable assets by focusing on intuitive room layouts, inviting communal areas, and sustainable practices. Let's embrace the power of design for a better bottom line. #Hospitality #HotelDesign #HotelTrends