U.S. Hotels Will Spend $6.4 Billion on Renovations and Upgrades in 2015

U.S. hotels' spending on making their brands more modern and competitive will hit another record high this year, but that doesn't mean brands themselves are spending more to ensure their technology and in-room amenities are top of the line. Hotels will spend nearly $6.4 billion (a 7% increase over last year's $6 billion) by the end of 2015 on capital expenditures, including expenses related to increased high-speed Internet capacity, re-conceptualized restaurants, and other in-room amenities upgrades, according to a report by New York University's School of Professional Studies. "The expenditures in 2015 still reflect some de