CHICAGO—Cicero's Development Corp., a property renovation contractor specializing in the hotel industry, has just been selected by Apple Hospitality REIT, Inc. to renovate its Hilton Garden Inn located in Schaumburg, IL, and if conditions in the hospitality industry remain steady, it will be just one of many hotels to get a refit this winter. A survey of about 3,000 hotel owners and operators in the US and Canada recently conducted by Cicero found that more than 40% were planning a major property renovation requiring a general contractor over the next year, with 28% planning a renovation in the coming six months.

During the recession, many operators put off the usual touch-ups and renovations that they typically implement every few years. But with the hotel industry currently enjoying occupancy rates hovering at fifteen-year highs of 65%, the operators have begun to dust off those old plans and call in general contractors like Cicero to help them catch up.

"In general, the hospitality industry is at an all-time high in terms of room occupancy and rental rates," Sam Cicero, Sr., founder of Cicero's, tells GlobeSt.com, "and the renovation work has really started to pick up." In fact, "our survey showed the highest levels of planned short-term hotel renovations we've seen since the mid-2000's and demonstrates that the hotel industry continues to improve at a steady pace from recession lows."