As demand increases for hotel rooms in the U.S. amid growth in tourism in some cities, developers are turning to pre-existing buildings to cut construction time and save money.

Oxford Capital Group founder, president, and CEO John W. Rutledge has been skydiving in New Zealand, elephant trekking in Thailand, and scuba diving off the Great Barrier Reef. But one of his favorite climbs will always be a complex hotel deal.

No fewer than a dozen new hotels representing about 2,700 rooms in Chicago have recently opened or are under construction, and additional projects seem to be announced on a weekly basis.