2012 Hospitality Giants: Growth
Wing Leung and Mike Zimmerman -- Interior Design, 10/1/2012 2:00:00 AM
Overseas work has been growing steadily since 2008 and now has nearly doubled. Some 36 percent of a firm's projects are international work and that will trend up. Asia is projected as the greatest potential growth center for the next two years by 66 percent of hospitality Giants. The Middle East has also seen a jump this year, with 32 percent of firms expecting good things in the region, up from only 10 percent last year.
In the U.S., 41 percent of firms expect the northeast to be a cash cow for the next couple of years; only 31 percent thought the same thing last year. But the real fun could come from the West Coast. For three years, only about one in four firms expected any growth there; now 34 percent say there's gold to be had. Time will tell.