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Muti-Billion Dollar Hotel Upgrades in 2015

shutterstock_136417715Here is an interesting fact: hotels throughout the United States will be spending a record amount on remaining modern and competitive this year, yet this does not necessarily translate entirely towards cutting-edge in-room amenities and technology.

It’s expected that hotels will spend close to $6.4 billion by the end of the year, representing an increase of just over six percent from 2014.  These expenses are focused on boosting broadband Internet capacity, reinventing restaurant concepts, and upgrading in-room amenities, per a report by New York University’s School of Professional Studies.

A lot of these recent expenditures are actually deferred items from 2009 to 2014 plus the need to meet new brand standards.  Curiously, social media has also become a factor in capital expenditures ever since 2012 as hotel owners deal with responses to guest criticisms and negative comments.

One area where brands are still seeking outside sources for improvements is in audio/visual equipment intended for use in meeting and multifunctional rooms, a frequently seen amenity among larger hotel brands.  These services are increasingly being outsourced, with the hotel receiving a commission.

The report doesn’t actually break down the numbers by any specific brand or region so that $6.4 billion may actually the money being used by individual property owners rather than a brand like Hilton or Starwood, for example.

This update is being brought to you by Matrix Renovations, one of the leading companies in hotel renovations.  To learn more about their hotel renovation solutions and construction & installation services, contact them at +1-855-6-MATRIX.

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