Hans Peter B.

🏨 Luxury hotel renovations now occur every 6–8 years, according to CBRE data from 2024. This shift is driven by brand standards, sustainability retrofits, and tech advancements. Cornell's 2023 research links delayed renovations to declining RevPAR. Sustainability demands add upfront costs but offer long-term value, as noted by JLL in 2024. The challenge is balancing capital discipline with the need to stay competitive. The focus is on long-term relevance rather than just initial appeal.