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Atlanta, Georgia (January 28, 2019): The International Society of Hospitality Consultants (ISHC), the leading source for global hospitality expertise, in partnership with the Hospitality Asset Managers Association (HAMA), has released the industry’s exclusive resource on hotel capital expenditures, ISHC CapEx 2018: A Study of Capital Expenditures in the Hotel Industry.
This is the fifth edition of the study with the aim of providing the industry with publicly accessible data on hotel capital expenditures. The book presents data on trends in capital expenditures by various hotel segments, including full-service, select-service and extended-stay. With the data provided in the CapEx 2018 study, industry decision makers can better evaluate and make informed decisions with regard to capital expenditures for their properties and repairs and maintenance spending.
“This 5th edition of the CapEx study provides a fresh look at capital expenditures including key comparisons to historical studies and insight from industry experts on related topics. The data demonstrates that hotels are subject to various factors that impact capital spend, including owner objectives, asset management approach, cyclical industry trends and the economic and political climate. Having worked on the previous editions, it is interesting to see the changes in CapEx trends and the huge impact they are having on the industry,” commented Alan Benjamin, ISHC, CapEx committee co-chair and president of Benjamin West, the hotel industry’s largest global purchasing firm for furniture, fixtures and equipment (FF&E) and operating supplies and equipment (OS&E).
Chad Sorensen, CHAM, ISHC, CapEx committee co-chair and managing director/executive vice president of CHMWarnick, said, “Data was collected from more than 900 hotels, nearly doubling the sample size analyzed in the prior study, representing 139 markets across the U.S. As with our previous studies and even more so with CapEx 2018, we are confident that the findings will hold value for key stakeholders, including hotel owners, investors, brands, operators, suppliers, among others, tasked with anticipating and balancing spend with available resources, and capital investment with value returned.”
ISHC and HAMA collaborated with STR, the premium source for global data benchmarking analytics and marketplace insights for the hospitality industry, to compile and analyze the data.
“The CapEx 2018 book is the cumulative result of numerous partners, and it would not have been possible without the contribution of countless volunteer hours. We are thankful for the CapEx Committee, HAMA and STR helping us compile and synthesize this information to ultimately benefit hoteliers contemplating upcoming property projects,“ commented Andrea Belfanti, executive director of ISHC.
The ISHC CapEx 2018: A Study of Capital Expenditures in the Hotel Industry is available for purchase in the form of a book or downloadable pdf. To order your copy, please visit ishc.com/ishc-cap-ex/.
The International Society of Hospitality Consultants is truly The Leading Source for Global Hospitality Expertise, represented by over two hundred of the industry’s most respected professionals from across six continents. Collectively, ISHC members provide expert services in over fifty functional areas and have specialized skills in virtually every segment of the hospitality industry. ISHC is dedicated to promoting the highest quality of professional consulting standards and practices for the hospitality industry. Candidates undergo a rigorous screening process, ensuring that all ISHC members have a reputation of integrity and are qualified by their experience, training and knowledge to develop and express sound judgment on industry issues. Additional information about the organization, along with a directory of ISHC members, is available on the ISHC website at ishc.com.
HAMA members are involved in asset management, acquisition, financing and disposition of hotels and resorts and are directly responsible for making decisions concerning capital investments, renovations, asset repositioning, operational policies and management selection. Its U.S. members represent more than 3,500 hotels and resorts across every major brand, accounting for 775,000 hotel rooms, 250,000 employees, $40 billion in annual revenue and $3 billion in capital expenditures. The organization boasts an additional 245 international affiliate members, as well.