Attendees at New York University's International Hospitality Industry Investment Conference this past week displayed overall optimism about the future of the hotel industry, and confirmed that the industry is in the beginning of a slow recovery.  The annual conference gathers leaders in the hospitality industry to network and discuss industry issues and trends. Mickey Locey, New Business Development Manager for DeLuxe’s Hospitality Division attended the conference, and confirmed that overall industry confidence is slowly increasing.  While there is still apprehension regarding unknown factors that can affect current and future business, it’s hard not to be somewhat optimistic as RevPAR for the industry is predicted to be up by 3% this year.

As demand slowly increases, the idea of new construction is beginning to be discussed. While it is unclear when financing for new construction will become readily available and unclear at what pace new projects will begin, it is crystal clear that for the developers with the vision, now is the time to start the planning process. 

As the demand for new supply returns, construction costs will go up and developers will find it harder to get projects built quickly. At DeLuxe, we’ll be able to help solve this problem by utilizing our offsite modular construction method which not only allows us to build 12 stories high, but also allows us to build quickly in order to bring hotel owners crucial first year revenue sooner.

As business continues to fight its way back, DeLuxe aims to support the industry through new hotel construction. Along with the hotel industry, we look forward to the beginning of the end of the economic recession that has affected us all so greatly.

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