Commercial Construction & Renovation

SEP-OCT 2012

Commercial Construction & Renovation helps our subscribers design, build and maintain better commercial facilities by delivering content to meet the information needs of today's high-level executives.

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Did you know? The numbers game 15.7 The percent increase that the hotel industry's profit in 2011 was over 2010 – approximately $33 billion, according to STR's Hotel Operating Statistics pro- gram. STR found the economy segment showing the highest profitability among all industry segments with a 42.3 percent profitability in 2011. Overall, profitability growth in the previous year ranged from 9.3 percent, to 41.5 per- cent across the hotel segments. 9.3 The percent increase of construction spending in July, compared with the same period last year, according to data from the Associated General Contractors. The total value of commercial construction spending reached $834.4 billion in July. 3 The percent that the number of full-service restaurants grew in the first half of 2012, compared to 2.5 percent for delivery and takeaway chains, and 2.4 percent for fast-casual, according to the research firm CHD Expert. West Virginia, New York and Connecticut saw the highest restaurant growth. ■ Most hotel markets around the globe are keeping rates up despite economic concerns and declining demand in some regions, according to TravelClick's 2012 Second Quarter Global Hotel Industry Update. Data from Q2 for the top 50 mar- kets tracked by TravelClick showed distribution among the channels remained consistent from what it reported the quarter prior. An analysis of the $8.9 bil- lion revenue by channel showed approximately 25 percent of the bookings were controlled by third par- ties (16.8 percent were online travel agencies and 9.1 percent global distribution systems), while the remainder were controlled by the hotel (36.7 percent were property direct, 21.3 percent brand websites and 16.1 percent central reservation office bookings). ■ PKF Hospitality Research predicts a 6.7 percent increase in revenue per available room at U.S. hotels this year, up from a 5.8 percent revPAR growth fore- cast in June. According to PKF, the main reason for the improved annual forecast is the stronger-than- expected performance of the market in the second quarter of the year. ■ U.S. retailers' plans for store openings keep grow- ing and have reached a four-year high in July, accord- ing to the August edition of National Retailer Demand Monthly. Over the next two years, retailers will open a total of 78,325 stores, an 11 percent increase over pro- jected store openings at the end of last year. It also is a 0.6 percent increase over plans announced in June. Circle No. 9 September/October 2012 ccr-mag.com 13

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