....I found this info somewhere in my travels:
"Hoteliers say there are basically three cycles in a hotel's life: refurbishment, basic renovation and complete renovation.
The first cycle can occur in the first three to six years: a refurbishment of furniture, fixtures and equipment, averaging between $8,000 and $12,000 a room.
After about 12 years comes basic renovation, averaging $20,000 per room. Finally, after about 50 years, comes a massive renovation, which can cost upwards of $100,000 per room."