Reading Time: 3minutes Introduction to 2024 Hospitality Trends Detailed Review of 2023 Performance RevPAR Growth in 2023 Factors Affecting ADR and Occupancy Forecast for 2024 in the Hospitality Industry Predicted RevPAR and ADR Trends Urban vs. Airport Hotel Performance According to the latest CBRE data, the Hospitality Insight 2024 Hotels Outlook reveals positive trends in the hospitality market.
Reading Time: 3minutes Understanding the Top Amenities Outdoor and Rooftop Amenities Tech Upgrades and Eco-Friendly Solutions Fitness Centers and Interior Amenities The BASE4 Advantage in Multifamily Developments Tailoring Amenities to Community Needs Developers constantly strive to meet residents’ demands and preferences in the ever-evolving multifamily market. To stay competitive, developers and builders must know the top amenities shaping
Reading Time: 4minutes Understanding the Benefits of CFS Framing Faster Construction Times Enhanced Durability and Resistance Sustainability and Lower Insurance Costs Why Choose BASE4 for Your CFS Framing Needs Innovative Solutions and Comprehensive Services CFS framing has gained significant attention in the construction industry as a viable alternative to traditional wood framing. With its inherent strength, durability, and
Reading Time: 3minutes According to the Producer Price Index data, the non-seasonally adjusted index increased 0.49% between January and February after increasing 1.27% between December and January. Read on for detailed information for construction material prices. I Have a Project I Want to Discuss! Softwood Lumber In February, the seasonally adjusted PPI for softwood lumber dropped by 2.98%,
Reading Time: 3minutes As you navigate the ever-evolving hospitality industry landscape, it is crucial to stay ahead of the game and be aware of the key trends shaping the sector in 2024. Being well-informed about these trends will be instrumental in creating successful and future-proof hotel developments. Read on. I Have a Hotel Project I Want to Discuss!
Reading Time: 4minutes Developers undertaking coastal projects face a multitude of challenges that are unique to these environments. It is important to be aware of the unique building codes and regulations specific to coastal living. Read on. Coastal development projects come with their fair share of challenges. The first challenge lies in understanding and adhering to the various codes
Reading Time: 3minutes We have exciting news to share! We are thrilled to announce our participation in the prestigious Hunter Hotel Investment Conference again. This conference brings together leaders and experts in the hospitality industry, providing a unique opportunity for networking, learning, and exploring new partnership opportunities. What an honor to be part of this incredible event. Schedule a
Reading Time: 4minutes Builders in the housing market are currently facing numerous challenges. High-interest rates and high construction costs have decreased builder confidence. With rates and costs at an all-time high, you may be thinking it’s not the right time to move forward with new development deals, but that may be a mistake! Read on to find out. Let’s
Reading Time: 3minutes The urban landscape continues to undergo a transition from corporate to community and in 2024, this trend continues. Is it time to consider converting an office building into an apartment building? Read on. I have an office project to convert Financial incentives and economic conditions make now the best time in history to explore conversion opportunities.
Reading Time: 3minutes We are proud of our expertise in design innovation and engineering excellence, which allows us to elevate the hospitality experience. Our objective is to create immersive and awe-inspiring experiences. That’s why we are developing an exceptional Hampton by Hilton hotel in the breathtaking Virgin Islands of St. Thomas. Read more to know about this wonderful
Reading Time: 4minutes We help developers find the fastest and most cost-effective construction methods, including introducing new and innovative construction systems that revolutionize the building industry. BASE4 is currently involved in developing several 4-story buildings using new cutting-edge technology. Read on. Image courtesy of RENCO I Have a Project I Want to Discuss! This new system was recognized and featured
Reading Time: 4minutes As a developer, the new year brings exciting opportunities for project development. You may be in search of the perfect location to embark on your next venture. Are you considering the Southeast and Southwest regions of the United States? It’s natural to question whether these areas are becoming oversaturated. Read on and look closer to
Reading Time: 3minutes In the past, we saw increased freight prices that led to higher transportation costs for construction materials, equipment, and supplies. Recently, ocean freight prices, specifically China-West Coast US rates, have been on a downward trend and have reached pre-pandemic levels. Read on. I Have a Project I Want to Discuss! According to Freightos data, the
Reading Time: 3minutes Many material prices have stabilized, which is welcome news for the industry. As per the latest Producer Price Index report, construction input prices fell 0.6% in December. In particular, concrete stands out as the exception, with its costs continuing to surge while prices of other materials have reached a stable or plateaued state. Read on to
Reading Time: 4minutes In today’s competitive real estate market, developers need to be strategic and selective in the markets they choose for new multifamily developments. With changing demographics, economic trends, and varying demand for rental properties, careful consideration of location and market dynamics is crucial. While some markets may appear promising on the surface, a deeper dive may
Reading Time: 4minutes Rising insurance costs have become a significant concern, with premiums skyrocketing. Many developers are exploring new building types in order to save hundreds of thousands of dollars (or sometimes even millions!) on these premium costs! Read on to find out more! I Have a Project I Want to Discuss! When we speak about insurance, we
Reading Time: 3minutes 2023 has been a windwhirl, despite these challenging times in the industry, we had the opportunity to work on some incredible projects. We appreciate and acknowledge the hard work and dedication of all the developers, builders, vendors, and clients who have chosen BASE4 as their trusted design partner. We are committed to providing all services in-house,
Reading Time: 3minutes According to the latest Producer Price Index report, the price level of building materials, excluding energy, has declined. Over the past five months, steel mill product prices have consistently declined, reaching the lowest level since March 2021 with a total decrease of 12.5%. Are construction prices stabilizing? Read on! I Have a Project I Want to
Reading Time: 4minutes As the demand for high-quality student accommodation continues to grow, the need for innovative housing solutions designed specifically for students is on the rise. Developers are actively seeking out new approaches to meet the needs of this expanding market. Read on. I Have a Project I Want to Discuss! The student housing investment market is
Reading Time: 3minutes The increasing desire for socialization, mainly fueled by the expansion of the work-from-home revolution and rising construction costs, has led to a trend of shrinking apartment units. Last year, the average size of new rentals decreased by 54 square feet compared to ten years ago, with the average size being 887 square feet. Read on. I
Reading Time: 3minutes The success of modular and other offsite construction relies heavily on logistics. Transporting, storing, and assembly of prefab components can be difficult and risky. A roadblock during this process can create costly delays in equipment costs and idle labor that can add tens of thousands of dollars a day to a project. Don’t overlook the importance of
Reading Time: 5minutes As multifamily developers, it is crucial to recognize the value of smart upgrades for multifamily energy efficiency. Energy-efficient projects are in high demand and tend to have a higher market value than their less efficient counterparts. Energy-efficient multifamily projects are now eligible for an expanded tax credit. Read on. Energy-efficient projects are designed and built to
Reading Time: 4minutes Extended-stay hotels are gaining recognition as a credible alternative to traditional multifamily housing. With their flexible accommodations and extended-term rental options, these hotels have found a niche for individuals seeking temporary or transitional housing solutions. Extended-stay hotels have emerged as a popular solution to address the shortage of multifamily housing. Read on. I Have a Hotel
Reading Time: 3minutes The Caribbean is quickly becoming a preferred destination for hospitality investments with its breathtaking beauty and growing popularity. It’s currently one of the premier destinations for travelers. Hotel occupancy in the Caribbean was 70.2% in July, a 6.4% increase over the same period in 2022. The Caribbean offers an incredible range of hospitality choices, making it an
Reading Time: 4minutes Midscale Extended Stay Hotels are a growing segment in the hospitality industry, offering the convenience and amenities of a hotel along with the comfort and flexibility of an extended stay. With new brands like Project H3 by Hilton, Hyatt Studios, and Marriott International’s StudioRes entering the market, interest has increased tenfold. This segment is outperforming
Reading Time: 4minutes The hotel market in the Southeast is currently experiencing a surge in investment opportunities. The region’s flourishing economy and the rise in business and leisure travel have led to a high demand for hospitality services. The Southeast market stands as our busiest market for new hotels. Keep reading to find out more. I Have a Hotel
Reading Time: 3minutes We understand the importance of creating a memorable and attractive space for your guests. Are you a hotel owner looking to renovate your property? Ready to transform your hotel? Read on. A PIP, or property improvement plan, is an action plan designed to bring a hotel property into compliance with the latest brand standards. We do
Reading Time: 3minutes The U.S. multifamily market posted a solid performance in mid-2023. This market has showcased positive trends and growth in several areas. The U.S. multifamily market experienced a remarkable increase in demand, with 70,200 units of positive net absorption in Q2, marking the first significant quarterly demand since Q1 2022. Read on. With the U.S. population increasing
Reading Time: 4minutes First impressions matter; having an attractive interior can help make a project appealing. As a developer, have you ever wondered about the importance of having interior design professionals as part of your project team? Read on. Did you know? 3D interior rendering has unquestionably shaped decisions by developers. Need Interior Design Services?! Benefits of Hiring an
Reading Time: 4minutes Modular construction, which can cut down the cost and time of building, is gaining popularity in North America as developers look for more efficient and adaptable ways of construction. This method offers a more flexible option in construction as it reduces the need for on-site labor, materials, and equipment. Is it time to consider modular? I
Reading Time: 3minutes The multifamily industry has demonstrated resilience against various challenges, such as rising construction costs and regulatory obstacles, but this sector continues to show no signs of slowing down! Read on! Let’s Talk about your Multifamily Development! The multifamily market remains on solid footing, ready for continued growth in the years ahead. The latest report on
Reading Time: 3minutes Construction costs are high. Rework and change orders due to coordination issues and incorrect builds are making this number higher! What can you do? I Have a Project to Discuss By using construction technology, as a developer, you can build structures more efficiently and cost-effectively, resulting in faster and cheaper construction projects. Construction technology has revolutionized
Reading Time: 3minutes Over the past two years, there has been a significant surge in apartment conversions. This growing trend in the real estate industry has resulted in the creation of converting outdated office buildings into much-needed residences—an effective solution for transforming existing spaces into viable living options. Should you convert an office building into an apartment building? Read
Reading Time: 4minutes Last year Build-For-Rent (BFR) homes had a record-breaking year in the U.S. More than 14,500 houses were built for this purpose, which is a 47% increase from the previous year when fewer than 10,000 homes were completed. Is built-for-rent housing the next big thing in multifamily living? Read on. Let’s talk about your next project!
Reading Time: 3minutes The latest Producer Price Index report shows that the cost of building materials excluding energy, did not change much in June 2023. Key construction materials are still costly, and some building material prices have increased slightly. How does this affect the construction industry? Read on to find out. I Have a Project I Want to Discuss!
Reading Time: 3minutes Despite the current news and economic state, many people are still constructing buildings. The construction industry has started the year on a positive note, which is a good sign for its future. The industry’s potential for expansion and resilience is evident from these figures. The ongoing investments in infrastructure and the strong housing market further
Reading Time: 3minutes Despite the current economic issues, high construction costs, and challenges on the jobsite, we are delighted to see that many projects are still moving forward. Thank you to all the developers, builders, vendors, and clients for partnering with BASE4, your trusted design partner! I have a project to discuss Regardless of the obstacles developers, constructors,
Reading Time: 3minutes In today’s environment of higher construction costs, optimizing building efficiency is crucial. Unnecessary wasted space resulting in the loss of rentable square footage can significantly impede the financial return on investment. Meet the market demand while maximizing investment returns, read on! I have a project I’d like to discuss Achieving higher efficiency directly translates
Reading Time: 3minutes We have been closely watching what is happening in the hospitality industry, and we are delighted to announce the upcoming launch of a new upper-midscale extended-stay brand: Hyatt Studios. Our incredible team is excited to join this new upper-midscale extended-stay brand release as we work on several new Hyatt Studios Hotels for our clients. The Hyatt Studios
Reading Time: 3minutes The multifamily market continues to be one of the more appealing property developments in the real estate market. The national multifamily real estate market remains stable and exhibits strong fundamentals, even with the recent challenges of high inflation and increasing interest rates. Here is an update on the current market projections; read on. Let’s talk about
Reading Time: 4minutes Hotels are making a comeback! Investors and industry professionals have closely watched as the hotel industry witnessed an overall improvement in its fundamentals, showing a year-over-year increase of 15.5% in revenue per available room (RevPAR). Read on for more information on what’s happening with the current market metrics. There has been a rise in the percentages
Reading Time: < 1minute A few hospitality events are just unmissable! Along with Base4 CEO Dr. Garry Vermaas, I am attending next week’s Hunter Hotel Conference at the Atlanta Marriott Marquis. Taking this opportunity to interact with many of our clients and acquaintances, Garry and I invite you to come say hello. Looking forward to awesome conversations with both
Reading Time: 2minutes See you at the Hilton Global Owners Conference 2017! Base4 is excited to be attending next week’s Hilton Global Owners Conference 2017 in Dallas, TX. Base4 is a Hilton Preferred Partner for Architecture, Structural and MEP Engineering and we are honored to be a gold level sponsor at this year’s event. With over 40 Hilton projects currently in various stages of design,
Reading Time: < 1minute See you at IHG Americas Conference next week! Base4 is excited to attend this year’s IHG Americas Conference at The Venetian in Las Vegas, Nevada next week. The IHG Americas Conference brings together industry representatives such as hotel Owners, General Managers, Hotel Management, and Franchise Representatives. IHG comprises 5,070 hotels worldwide and 1,407 in its growing pipeline as well
Reading Time: < 1minute Base4 is excited to be attending the 29th Annual Hunter Hotel Conference at the Atlanta Marriott Marquis next week. We look forward to spending some time with many of our clients and partners in the hospitality industry at this event. If you are attending this year’s event, please let us know as we’d love to schedule some time to say
Reading Time: < 1minute Base4 is excited to be attending the 2016 Lodging Conference at The Arizona Biltmore Resort and Spa in Phoenix, AZ next week. We look forward to spending time with many of our clients and partners in the hospitality industry at this event. If you are attending, please let us know as we’d love to schedule some time to say hello.
Reading Time: < 1minute Class Is In Session! B4U (Base4 University) is several weeks into our first academic semester. Our 37 talented program attendees are graduates selected from some of the premier local colleges in the fields of Architecture & Engineering. The Base4 Executive Team designed this 3-month academic period to be intensive and filled with expert lectures and
Reading Time: < 1minute Base4 is excited to be attending the 62nd Annual Choice Owner’s Conference at Mandalay Bay next week in Las Vegas. This year’s theme is “Momentum” and two of our founding partners, Dr. Garry Vermaas and Blair Hildahl, will be on site to discuss all the momentum they are seeing in the hotel industry. Base4 received
Reading Time: < 1minute Base4 is excited to be attending the 28th Annual Hunter Hotel Conference at the Atlanta Marriott Marquis next week. We look forward to spending time with many of our clients and partners in the hospitality industry at this event. If you are attending, please let us know as we’d love to schedule some time to say hello. Looking forward to
Reading Time: < 1minute Base4 is excited to be attending the 27th Annual Hunter Hotel Conference at the Atlanta Marriott Marquis next week. We look forward to spending some time with many of our clients and partners in the hospitality industry at this event. If you are attending this year’s event, please let us know as we’d love to schedule some time to
Reading Time: 2minutes Introducing a New Partner Base4 is excited to announce a new partner, Amr Gawad, who is based in Orlando and will be leading the Base4 civil engineering department. Amr is a licensed professional civil engineer (PE) with over 30 years of experience in land development for projects around the world. Originally from Egypt and having