Lodging
U.S. hotels this year will spend a record $6 billion in capital expenditures to improve guest amenities and services,
a 7 percent increase compared with 2013, according to research by New York University Tisch Center for Hospitality clinical professor Bjorn Hanson. In his research, based on interviews with industry executives and analysis of brand standards, Hanson noted that the increase is partially due to brands and management companies becoming less flexible in quality and brand-standard requirements for hotel owners. Additionally, "social media postings are resulting in additional capital expenditures as owners become more aware of and respond to criticisms and unfavorable comments," according to Hanson. U.S. hotel capital expenditures have increased annually since 2010, when the spending level was less than half of the estimated level for this year.