A general forecast of the hotel industry in Las Vegas is rather positive. UNLV’s Center for Business and Economic Research predicts that hotel occupancy will climb 30% in 2021, which is a great profit for potential hotel owners.
Hotel Construction Services in Las Vegas & Henderson
For many years Las Vegas has been the city of highly developed tourism. According to statistics, more than 40 million people visit the city every year. As a result, the economy of Las Vegas, including its major industries, relies on tourism a lot.
The hotel industry is not an exception. With more than 150,000 inn rooms, hotel management in Las Vegas has become a profitable field with huge potential. The real estate market here is being replenished with newly-constructed hotels, and many people consider constructing ones of their own.
Las Vegas Hotel Construction
There is a clear benefit of constructing hotels in Las Vegas — the market is in constant demand of luxury hotel projects, as tourism keeps on developing. Besides this, by constructing a hotel, you get the freedom of creativity and an assurance that everything is completely new and qualitative. Another thing that attracts people into hotel management in Las Vegas is the amount of a possible outcome, which is a perfect basis to build long-term wealth.
Even though it all sounds easy, to succeed in the hotel industry of Las Vegas, you definitely should use some professional help.
How much does it cost to build a hotel in Las Vegas?
There are many aspects that influence the cost of hotel construction in Las Vegas. For example, hotels built in urban areas cost more than those, which are built in rural ones. There is also the question of a hotel type, as it is obvious for a 5-star hotel to be more expensive than a simple motel. The amount of rooms also matters, as the price increases alongside the square footage.
There is an average range of hotel prices in Las Vegas, which goes between $13,000,000 and $30,000,000.
Top-rated General Contractors in Las Vegas & Henderson
If you are planning to construct hotels in Las Vegas, hiring a general contractor will be the right decision. This job consists of negotiating with subcontractors, providing all the needed materials, monitoring the quality of work, etc. In fact, this decision saves you time and nerves, as all the aspects of construction are now the responsibility of commercial construction services such as new small or big hotel construction.
If you are looking for a trustworthy and loyal construction company to work with, Titon General Contractors is the one you need. Our team consists of highly qualified contractors, who are well aware of the newest tendencies of the real estate market and know exactly how to make your project remarkable. By providing our clients with an individual approach, our company offers the best hotel construction services in Las Vegas & Henderson.
Titon General Contractors always tries to step ahead of potential problems or issues, which saves money, time, and transforms the projects into successful newly-constructed hotels.
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