Lodging Construction & Renovation Market Is Booming Worldwide| Suffolk Construction, Hensel Phelps, AECOM

HTF MI just released the Global Lodging Construction & Renovation Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2031. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach.

Major companies in Lodging Construction & Renovation Market are: Suffolk Construction (United States), STO Building Group (United States), PCL Construction Enterprises (Canada), AECOM (United States), Brasfield & Gorrie (United States), Balfour Beatty US (United States), Turner Construction (United States), DPR Construction (United States), Swinerton (United States), JE Dunn Construction (United States), McCarthy Holdings (United States), Manhattan Construction (United States), Hensel Phelps (United States), W.E. O'Neil Construction (United States), Mortenson (United States), The Weitz Company (United States), Gilbane Building Company (United States), Austin Industries (United States), Whiting-Turner Contracting Company (United States), Skanska USA (Sweden/USA)

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According to HTF Market Intelligence, the global Lodging Construction & Renovation Market size was valued at USD 629.5 billion in 2024 and estimated to reach revenue of USD 1360 billion by 2031, with a CAGR of 8.5% from 2025 to 2031.

The Lodging Construction & Renovation Market is Segmented by Application (Full-Service Hotels, Limited-Service Hotels, Specialty Hotels, Alternative Accommodations) by Type (New Hotel Construction, Hotel Renovation & Refurbishment, Hotel Expansions & Additions, Conversion & Adaptive Reuse) by Construction Method (Traditional, Modular & Prefabricated, Advanced Construction Technologies) by Material Category (Structural Materials, Building Envelope Materials, Interior Finish Materials, MEP Materials & Equipment)

Definition:
Encompasses construction of new lodging facilities and renovation or repurposing of existing structures into hospitality assets. Includes engineering, architecture, materials (structural, MEP, finishes), sustainability certifications (LEED, WELL), smart infrastructure, and smart-building systems. Responds to evolving guest demands, lifecycle facility planning, energy efficiency mandates, and modern-tech infrastructure integration, serving hotels, resorts, and other lodging subtypes globally.

Market Trends:
Adoption of modular and prefabricated construction, green building certifications, BIM and digital tools, smart IoT infrastructure, adaptive reuse of buildings, wellness- and lifestyle-oriented design.

Market Drivers
Global tourism growth, urban expansion, sustainability mandates, demand for energy-efficient and modern guest experiences, public and private investments, older property lifecycle renewal needs.

Market Opportunities:
Expanding hospitality markets in emerging economies, retrofitting older properties with green technology, mixed-use developments, turnkey smart infrastructure, wellness and luxury conversions.

Market Challenges:
High capital requirements, skilled-labor shortages, complex building codes and permits, supply chain delays, risk of operational downtime during renovation, project management complexity.

Dominating Region:
North America

Fastest-Growing Region:
Asia‐Pacific

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The titled segments and sub-section of the market are illuminated below:
In-depth analysis of Lodging Construction & Renovation market segments by Types: New Hotel Construction, Hotel Renovation & Refurbishment, Hotel Expansions & Additions, Conversion & Adaptive Reuse
Detailed analysis of Lodging Construction & Renovation market segments by Applications: Full-Service Hotels, Limited-Service Hotels, Specialty Hotels, Alternative Accommodations

Global Lodging Construction & Renovation Market -Regional Analysis
• North America: United States of America (US), Canada, and Mexico.
• South & Central America: Argentina, Chile, Colombia, and Brazil.
• Middle East & Africa: Kingdom of Saudi Arabia, United Arab Emirates, Turkey, Israel, Egypt, and South Africa.
• Europe: the UK, France, Italy, Germany, Spain, Nordics, BALTIC Countries, Russia, Austria, and the Rest of Europe.
• Asia: India, China, Japan, South Korea, Taiwan, Southeast Asia (Singapore, Thailand, Malaysia, Indonesia, Philippines & Vietnam, etc) & Rest
• Oceania: Australia & New Zealand

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Lodging Construction & Renovation Market Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyze the with respect to individual future prospects, growth trends and their involvement to the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.

FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

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Points Covered in Table of Content of Global Lodging Construction & Renovation Market:
Chapter 01 - Lodging Construction & Renovation Executive Summary
Chapter 02 - Market Overview
Chapter 03 - Key Success Factors
Chapter 04 - Global Lodging Construction & Renovation Market - Pricing Analysis
Chapter 05 - Global Lodging Construction & Renovation Market Background or History
Chapter 06 - Global Lodging Construction & Renovation Market Segmentation (e.g. Type, Application)
Chapter 07 - Key and Emerging Countries Analysis Worldwide Lodging Construction & Renovation Market
Chapter 08 - Global Lodging Construction & Renovation Market Structure & worth Analysis
Chapter 09 - Global Lodging Construction & Renovation Market Competitive Analysis & Challenges
Chapter 10 - Assumptions and Acronyms
Chapter 11 - Lodging Construction & Renovation Market Research Method

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, LATAM, Europe, Japan, Australia or Southeast Asia.

Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketreport.com

About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.

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