Construction cost analysis of new/refurbished hotel & motel properties

The main thrust of this study was to acquire a bank of information on construction activity for the United States for 1992-93. It includes a statistical evaluation of construction costs for new hotel properties, properties who have made addition, and properties who have made renovations in 1992-93, with a breakdown of specific regions of the US. The literature review contains many articles on this topic, as well as many related subjects. This study also attempts to identify some agencies who are currently providing grant funding to individual developers. The study used Descriptive Statistics to obtain a consensus from a list of General Managers and Owners of hotel properties. This research study evolved out of a partnership agreement between American Hotel & Motel Association, Smith Travel Research Co., and Rochester Institute of Technology. The results of this study will be made available to the hospitality industry, as a reference to future hotel developmen