With the data provided in the CapEx 2023 study, industry decision makers can better evaluate and make informed decisions regarding capital expenditures for their properties and repairs and maintenance spending.
ATLANTA, GEORGIA – The International Society of Hospitality Consultants (ISHC), leading source for global hospitality expertise, in partnership with the Hospitality Asset Managers Association (HAMA), has released the industry’s exclusive resource on hotel capital expenditures, ISHC CapEx 2023: A Study of Capital Expenditures in the Hotel Industry.
This is the sixth edition of the study with the aim of providing the industry with publicly accessible data on hotel capital expenditures. The book presents data on trends in capital expenditures by various hotel segments, including full-service, select-service, and extended-stay.
“This 6 th edition of the CapEx study provides an in-depth look at capital expenditures in the hotel industry, including analysis on the impact of the COVID-19 pandemic and key comparisons and trends to historical studies, dating back to 1995. To provide context beyond the numbers, the study also includes insights from a multitude of industry experts on topics related to CapEx.
Beyond the pandemic impacts, the study demonstrates the complicated nature of capital spending in hotels because of various factors, including owner objectives, asset management approach, cyclical industry trends, and the economic and political climate. Capital spending has become one of the single most important, and challenging, issues for the ownership community to get their arms around. The gap between available funds for CapEx and the amounts required to maintain hotels and related brand standards has never been greater.” commented Chad Sorensen, ISHC, CapEx committee co-chair, and CEO of CHMWarnick.
Stephen Hennis, CapEx committee co-chair and Hotelogy founder, stated, “This is our largest study to date covering more than 900 hotels and comprising over 3,100 annual data points of
capital spending. As with our previous studies and even more so with CapEx 2023, we are confident that the findings will hold value for key stakeholders, including hotel owners, investors,
brands, operators, suppliers, among others, tasked with anticipating and balancing spend with available resources, and capital investment with value returned.”
ISHC and HAMA collaborated with STR, the premium source for global data benchmarking analytics and marketplace insights for the hospitality industry, to compile and analyze the data. “The CapEx 2023 book is the cumulative result of numerous partners, and it would not have been possible without the contribution of countless volunteer hours. We are thankful for the CapEx Committee, HAMA, and STR for helping us compile and synthesize this information to ultimately benefit the hospitality industry,” commented Andrea Belfanti, CEO of ISHC.
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