27 Per Cent Increase in Branded Residence Hotel Operators Highlights Substantial Growth in the Sector
Second edition of whitepaper launched this week reveals branded residences industry benchmarks
Each year, HVS researches development costs from our database of actual hotel construction budgets, industry reports, and franchise disclosure documents. These sources provide the basis for our range of component costs per room.
While rising numbers are in line with government plans to welcome 60 million tourists by 2030 to help offset struggling areas of the Japanese economy, the hotel industry faces in own challenges in keeping up with growing demand for rooms.
Public sector involvement in convention center hotels is common due to high cost of development and lack of private capital for such investments. Many communities provide public subsidies to projects that are not feasible on a purely private basis.