Page 7 - 2018 Hotel Cost Estimating Guide

10th EDITION FOREWARD HOTEL COST ESTIMATING GUIDE 2018
Ten years ago, JN+A and HVS Design saw an opportunity. There wasn’t a reference manual available for personnel to gain an understanding of how much renovations cost. People needed a tool to help them quickly assess their renovation needs, no matter the size or type. With that, the Hotel Cost Estimating Guide was created. The response was so immensely positive that we have continued to refine and update the costs on an annual basis.
Looking back, when we started the Cost Guide, the hotel industry was still reeling from the 2008 recession. Capital expenditure resources were low and renovation cycles were being missed. As the recovery started, hotel owners were trying to get a handle on their renovation costs and seeing if renovations could be completed in a piecemeal fashion. Determining where they could get the biggest return on their investment was paramount. The Cost Guide became a vital resource in helping owners undertake and understand this task.
Since that time, the industry has seen a steady growth to pre-recession times. New brands are launching and new trends are changing the way projects are renovated. The line items in the Cost Guide have been adjusted each year to reflect these trends like tub-to-shower conversions and RFID locks. It is our goal to incorporate the latest industry trends each year to provide you with the costs most relevant to your projects.
The Cost Guide is intended to give you a good starting point for your budget. When you are ready to begin your project, you should get a more detailed version of the budget done by the manager of your job. Should you need a more detailed number that is customized specifically to your property, the team at JN+A and HVS Design is able to provide that service for you.
We often get requests to provide a Cost Guide for new build projects, but the various location factors that influence new build costs make this is difficult task to undertake. JN+A and HVS Design do have extensive data on new build projects and can assist you with creating a site-specific budget.
Lastly, the Cost Guide is not possible without the invaluable insight by our contributors. We encourage you to reach out to them for your next project. JN+A and HVS Design are proud to be able to create this trusted resource for your use for 10 years; and we look forward to continuing to serve you.
JN+A and HVS DESIGN | HOTEL COST ESTIMATING GUIDE 2018
7