Lack of organizational readiness is biggest hurdle to artificial intelligence adoption

Managers of companies in the industrial sector, including construction, have bought the hype of artificial intelligence (AI) as a transformative technology, but their organizations are not ready to realize its promise, according to research from IFS, a global cloud enterprise software company. An IFS survey of 1,700 senior decision-makers found that 84% of executives anticipate massive organizational benefits from AI.

Hotel Facilities

The U.S. hotel construction market sees record highs in the first quarter of 2024

As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.

Construction Costs

New download: BD+C's April 2024 Market Intelligence Report

Building Design+Construction's monthly Market Intelligence Report offers a snapshot of the health of the U.S. building construction industry, including the commercial, multifamily, institutional, and industrial building sectors. This report tracks the latest metrics related to construction spending, demand for design services, contractor backlogs, and material price trends.

Market Data

The average U.S. contractor has 8.2 months worth of construction work in the pipeline, as of March 2024

Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 8.2 months in March from 8.1 months in February, according to an ABC member survey conducted March 20 to April 3. The reading is down 0.5 months from March 2023.

Market Data | Jul 29, 2021

Construction employment lags or matches pre-pandemic level in 101 metro areas despite housing boom

Eighty metro areas had lower construction employment in June 2021 than February 2020.

Market Data | Jul 28, 2021

Marriott has the largest construction pipeline of U.S. franchise companies in Q2‘21

472 new hotels with 59,034 rooms opened across the United States during the first half of 2021.

Market Data | Jul 27, 2021

New York leads the U.S. hotel construction pipeline at the close of Q2‘21

Many hotel owners, developers, and management groups have used the operational downtime, caused by COVID-19’s impact on operating performance, as an opportunity to upgrade and renovate their hotels and/or redefine their hotels with a brand conversion.

Market Data | Jul 26, 2021

U.S. construction pipeline continues along the road to recovery

During the first and second quarters of 2021, the U.S. opened 472 new hotels with 59,034 rooms.

Market Data | Jul 21, 2021

Architecture Billings Index robust growth continues

AIA’s Architecture Billings Index (ABI) score for June remained at an elevated level of 57.1.

Market Data | Jul 20, 2021

Multifamily proposal activity maintains sizzling pace in Q2

Condos hit record high as all multifamily properties benefit from recovery.

Market Data | Jul 19, 2021

Construction employment trails pre-pandemic level in 39 states

Supply chain challenges, rising materials prices undermine demand.

Market Data | Jul 15, 2021

Producer prices for construction materials and services soar 26% over 12 months

Contractors cope with supply hitches, weak demand.

Market Data | Jul 13, 2021

ABC’s Construction Backlog Indicator and Contractor Confidence Index rise in June

ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased modestly in June.

Rider Levett Bucknall's Construction Cost Index rose again in the first quarter of 2021

Market Data | Jul 8, 2021

Encouraging construction cost trends are emerging

In its latest quarterly report, Rider Levett Bucknall states that contractors’ most critical choice will be selecting which building sectors to target.