Hospitality Giants 2015 Research: Fees
Fees for hospitality jobs alone had seen steady growth, 13 percent in last year’s report and 12 percent the report before that. Based on those rosy numbers, another 10 percent rise was predicted. So what did these Giants get instead? A 1 percent drop, to $693 million. That’s not to say business is bad. Total design fees, derived not only from hospitality but also from other areas, did rise 6 percent, to $1.68 billion. And 51 of the 75 firms reported growth. That’s less than the high of 58 growing firms three reports ago, however optimism remains high. These Giants are again forecasting a jump in hospitality fees, to $762 million, with 67 firms predicting growth—almost 90 percent.
No one can say there’s been a shortage of projects either. The hospitality Giants worked 4,800 gigs, up from 4,600. However, this uptick is a far cry from the 900-job jump the group made last time. Square footage was a similar story. The 223 million forecast turned into 199 million in reality. And yet… optimism rules again, with 231 million now predicted.
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