“While the pace of new starts has started to taper, demand remains strong for renovations, expansions and amenity upgrades that keep properties competitive,” he contends. “Owners are being more selective, but a significant amount of work is moving forward as they invest in projects that enhance guest experience and long-term value.”

Tuffo says one of the city’s biggest strengths is its resilience and an ability to reinvent itself. “Tourism and entertainment remain powerful economic drivers, so owners are continuously reinvesting in their properties to stay ahead of evolving guest expectations,” he says. “As construction costs remain elevated, “projects will require more upfront planning, stronger cost controls and realistic expectations around budgets.”

Suffolk is currently overseeing construction of the Four Seasons Private Residences, the Durango Casino & Resort North Expansion and the Campus for Hope, a large-scale, community-focused development.