With the recovering economy, guests are starting to venture back out and travel again. That’s good news for hotels. But those same guests are pickier than ever about where they spend their lodging dollars — and many are turning to hotel review sites and photos to ensure the hotel they choose is actually one they’d like to stay at and enjoy. So hotels are starting to renovate their properties. “The expenditures in 2015 still reflect some deferred items from 2009 to 2014 as well as meeting new brand standards, ranging from new or enhanced in-room equipment to redesigned lobbies,” the report states.
“In addition to brand standards influencing capital expenditures, social media postings are resulting in additional capital expenditures as owners become more aware of and respond to criticisms and unfavorable comments. This effect became significant starting around 2012 and continues to increase.”
Are you making plans to renovate? In the middle of a renovation?