2014 Hospitality Giants
It’s now safe to say, cliché or no, that the 75 firms that make up the
Giants in the hospitality sector have finally returned, after the Great Recession, to “business as usual.” Firms have found both stability and growth—by all accounts consistent and sustainable. And almost all have a pleasant view of the future. Let’s go to the numbers. As total design revenue hit $1.6 billion, up a sweet 18 percent from last time, hospitality fees specifically reached $701 million, a 14 percent rise and a continuation of the trend from the survey before. These Giants forecast another 10 percent jump in hospitality.
Hospitality work remains the design profession’s biggest growth driver. Three surveys ago, 40 percent of revenue came from hospitality. Now, it’s 44 percent, just a slight drop from 46 percent a year ago. For perspective, the next-in-line category was corporate, at 23 percent of revenue.