A newly published study by Bjorn Hanson of the Preston Robert Tisch Center for Hospitality and Tourism at the NYU School of Professional Studies predicts that a record-setting $6 billion will be spent in 2014 by the U.S. lodging industry on capital expenditures for remodeling and improving both guest rooms and public spaces.
Hanson says the spending increase is driven by deferred upgrades and improvements going back all the way to 2009 (no surprise there). Even though 2013 was a record year for remodeling and upgrades, 2014 is expected to beat that record with hoteliers' efforts to comply with brand standards and respond to consumer feedback on social media.
http://www.scps.nyu.edu/about/newsroom/news/2014/u_s_lodging_industry_0.html
