How much does it cost to build the average hotel?
There are a huge number of variables in such a question. For one thing, will it have a restaurant? What about a banquet or conference facility? Does it need a swimming pool or a gym? Is there a large lobby lounge?
According to USAToday, the average hotel room is roughly 325 square feet with interior dimensions of approximately13'x25' (including a full bathroom). In the United States, the average hotel will have 115 rooms and require around48,000 square feet.
Interestingly enough, a survey conducted by "Luxury and Resort Travel" found that the top amenities in most hotels were those "en suite" or available in the room rather than on the grounds. Because of this, we will consider the construction of a hotel with "Mid Priced" rooms, a lobby lounge, and the facilities to administer 24-hour room service.
The building of hotel requires an architect or an architectural firm, a knowledgeable contractor, a team of subcontractors, and a cooperative developer/owner to get the job done in a reasonable time frame.
- According to Hawkins Research, Inc., most hotel projects should use materials and techniques that fall under the "Best" classifications to keep wear and tear or replacement costs low. Such a building would run at an average of $22.2 million to complete. This does not include acquisition of the land or any demolition costs, however.
- The above figures place this construction at a $463 per square foot cost, though a national average of stands between $325 and $450 for hotel contractors. This pricing structure assumes that the work is unionized. "Open shop" laborers would follow a price structure that includes - carpenters, masons and excavators charging an average of $70 per hour, electricians between $65 to $85 per hour, painters between $20 and $35 per hour and plumbers between$45 and $65 per hour.
- Materials would cost around $9.8 million, labor would cost roughly $8.9 million, and the machine costs would stand at roughly $935,000.
