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According to the 2021 “Development Cost Survey” published by HVS International, the AVERAGE reported development cost for a LUXURY hotel was over $800,000 per key (guest room). Group of answer choices

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It is a true statement that the AVERAGE reported development cost for a LUXURY hotel was over $800,000 per key in 2021.

What is a Development costs?

This refers to the costs that a business incurs from researching and introducing a new service.

The U.S. Hotel Development Cost Survey 2021-22 shows that the AVERAGE reported development cost for a LUXURY hotel was over $800,000 per key in 2021.

Therefore, the statement is a true statement.

Read more about development cost

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