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Fall Construction Report 2008

By Jeff Coy and Bill Haralson

Bank crisis results in fewer loans, openings and ground breakings.

October 20, 2008 --- During 2008, twenty-five (25) hotel waterpark construction projects resulted in 20 new hotels and 5 resort expansion facilities that opened or will open by year end, --- that’s down from fifty-five (55) construction projects we expected to open in 2008 as of report published last February. Just eight months ago, we estimated that 83 hotel waterparks would be under construction during 2008. Today, that estimate is reduced to 66.

Hotel waterpark projects that received their construction financing in early 2007 opened and/or broke ground during 2008. However, thirty (30) projects never broke ground and their construction start dates shifted to 2009 or 2010 or were put on hold --- due to the recent mortgage meltdown and the federal rescue of the US financial system.

View Full Construction Report (pdf)

About the Authors

Jeff Coy is president of JLC Hospitality Consulting based in Cave CreekAZ.  You can reach him at 480-488-3382 or email him at jeffcoy@jeffcoy.com or go to www.jeffcoy.com.  Bill Haralson is president of William L. Haralson & Associates of RichardsonTX.  You can contact him at 505-802-1522 or email wharalson@aol.com or go to www.wlha-inc.com.

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