Press: Interior Design - 200 Giants
200 Giants - Thinking Positive Reason for optimism, reasons for trepidation. That sums up this election year. And one senses the same emotional yin-yang in the trending statistics for the second 100 Interior Design Giants firms. There’s some really good evidence that the story recession waters might be calming, although uncertainly about the economy hasn’t disappeared.
Total revenue for the second 100 Giants jumped to $887 million in 2011 from $686 million in 2010. That’s 29 percent. And the 2012 forecasts call for $936 million. That alone is optimism writ large. Meanwhile, design fees rose $21 million, to $299 million. There’s still a way to go to return to the prerecession heights, when fees topped $453 million, but the wind seems to be behind us. Firms installed a cool $8 billion worth of product and forecast $9.3 billion for next time. Average revenue-per-head also rose $13,000, to $167,000, and revenue-per-foot rose $1, to $98. The total number of projects made a wild leap, up 3,161 to 9,996. Firms expect 10,500 projects in 2012.
Office and hospitality accounted for 58 percent of all fees. (Office rose 23 percent, while hospitality dropped 15 percent.) Half the Giants worked on residential projects, too, with second-home projects jumping 27 percent. Folks are either feeling positive about vacations or sprucing up to rent or sell. And 53 firms did government work, heavy on offices but also including educational facilities.
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