Luxury is back. That’s according to recent data from PKF Hospitality Research showing RevPAR for the luxury-lodging segment jumping almost 7 percent in 2015. And while it’s clear that any setbacks the luxury tier suffered during the downturn are a distant memory, few new luxury projects are under construction, given their high cost relative to the construction costs associated with other lodging segments. Partly in response, a new take on luxury lodging has sprung up, a variation on a theme loosely referred to as “affordable luxury.” Clearly, there’s no one definition of the term, but that hasn’t kept major hotel companies like Marriott International, Wyndham Hotel Group and Hyatt Hotels Corp. from introducing brands they feel will help satisfy this unmet consumer need. While less expensive for developers to build and consumers to book than the usual luxury property, these hotels are still distinct from the usual mid-price lodging product in design and ambience. “Our market research has identified an independent traveler who is looking for a different type of experience than the one offered by traditional hotels, where consistency has been highly valued,” said Eric Jacobs, CDO for select-service and extended-stay hotels in North America at Marriott International. Get the full story at Hotel Management