NEW YORK CITY—The amount spent on capital expenditures for the US lodging industry is forecast to exceed the prior record level spent in 2013, for a new record level of $6 billion, an increase of 7%, according to a new report by Dr. Bjorn Hanson, clinical professor at New York University’s School of Professional Studies Preston Robert Tisch Center for Hospitality and Tourism.

There were decreases of 40% in 2009 and an additional 18% decline in 2010 in response to decreasing occupancy, ADR, RevPAR, and profits in 2009, but expenditures have increased every year since 2010, according to Hanson, who before joining the NYU faculty held the position of global industry leader, hospitality and leisure, at Pricewaterhouse Coopers LLP.

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