Now rising in the Big Apple, the 70-story Central Park Marriott will be the tallest hotel in the Western Hemisphere when completed by CNY Group. The $200 million project, with structural engineering by WSP, reflects the generally upbeat mood in the hospitality market.
“Globally, hotel operating fundamentals are poised to remain strong in 2013,” says Mark Wynne-Smith, Global CEO of Jones Lang LaSalle’s Hotels and Hospitality Group. Despite some economic stressors, JLL believes supply and demand, availability of investment capital (especially from private equity funds), and REIT stock prices all point to “an attractive environment” for hotel business worldwide.
TOP HOTEL ARCHITECTURE FIRMS
2012 Hospitality Revenue ($)1 Gensler $69,090,0002 WATG / Wimberly Interiors $54,713,0003 HKS $32,000,0004 Leo A Daly $19,999,6215 RTKL Associates $19,730,0006 Hnedak Bobo Group $17,425,0007 Perkins Eastman $11,600,0008 Kohn Pedersen Fox Associates $11,251,8009 Cuningham Group Architecture $10,019,86510 HOK $10,011,000
TOP HOTEL ENGINEERING FIRMS
2012 Hospitality Revenue ($)1 AECOM Technology Corp. $100,190,0002 Parsons Brinckerhoff $28,900,0003 Buro Happold Consulting Engineers $16,165,0004 Rolf Jensen & Associates $7,600,0005 Thornton Tomasetti $7,218,7316 KPFF Consulting Engineers $6,000,0007 Arup $5,527,3718 Michael Baker Jr. $4,340,0009 Wiss, Janney, Elstner Associates $2,880,00010 WSP USA $2,696,642
TOP HOTEL CONSTRUCTION FIRMS
2012 Hospitality Revenue ($)1 Manhattan Construction $290,769,0002 Structure Tone $250,908,0003 Lend Lease $234,975,0004 Swinerton Builders $227,431,9505 Mortenson Construction $209,550,0006 Tutor Perini Corporation $209,216,1267 Brasfield & Gorrie $163,774,5588 Flintco $155,600,0009 Messer Construction $147,695,12810 Yates Cos., The $144,700,000
San Francisco, Los Angeles, Houston, Chicago, New York City, Hawaii, and Washington, D.C., are pinpointed as strong markets in the Americas (http://bit.ly/JLLHotels).
Adaptive reuse for hospitality is producing some particularly interesting remakes of historic properties. The strategy dovetails with travelers’ growing taste for local authenticity—a particular interest of Millennials, according to Tom Ito, Principal and leader for Gensler’s global hospitality practice. “For this generation, avoiding the norm is all about being true to yourself,” says Ito. “As this consumer group grows in spending power, hoteliers will need to provide personalized experiences that reflect the spirit of this demographic.”
Related Stories
| Jan 3, 2012
Gensler: 'The One Firm Firm'
The giant architecture firm succeeds by giving each of its more than 3,000 employees the opportunity for career growth and professional leadership.
| Jan 3, 2012
Rental Renaissance, The Rebirth of the Apartment Market
Across much of the U.S., apartment rents are rising, vacancy rates are falling. In just about every major urban area, new multifamily rental projects and major renovations are coming online. It may be too soon to pronounce the rental market fully recovered, but the trend is promising.
| Dec 29, 2011
OSHA enforcing new fall hazard standards
OSHA is enforcing its new fall protection standards, as evidenced by a recent crackdown in New York.
| Dec 29, 2011
Decision not to fireproof the new World Trade Center Transportation Hub criticized
Some criticized the decision, reasoning that the structure could be a terrorist target.
| Dec 29, 2011
Seismic safety in question at thousands of California public schools
California regulators responsible for enforcing earthquake safety laws have failed to certify more than 16,000 construction projects in California public schools, increasing the risk that some projects may be unsafe, according to a state audit report.
| Dec 29, 2011
GreenWizard offers cloud-based LEED credit management, assessment
The company recently began offering companies the ability to run assessments for design credits, in addition to traditional product-specific LEED credits.
| Dec 27, 2011
Clayco awarded expansion of Washington University Data Center in St. Louis
Once completed, the new building addition will double the size of the data center which houses sophisticated computer networks that store massive amounts of genomic data used to identify the genetic origins of cancer and other diseases.
| Dec 27, 2011
Ground broken for adaptive reuse project
Located on the Garden State Parkway, the master-planned project initially includes the conversion of a 114-year-old, 365,000-square-foot, six-story warehouse building into 361 loft-style apartments, and the creation of a three-level parking facility.
| Dec 27, 2011
Nova completes $60M Clearwater Conference Center
Comprising an entire city block, the 450,000 sq. ft. facility features over 400 meeting rooms, six theaters, a full-service health spa, complete with an indoor running track, and a commercial kitchen that can efficiently accommodate over 1,000 diners
| Dec 27, 2011
BD+C's Under 40 Leadership Summit update
The two-day Under 40 Leadership Summit continued with a Leadership Style interactive presentation; Great Solutions presentations from Under 40 attendees; the Owner’s Perspective panel discussion; and the Blue Ocean Strategy presentation.
