Your quarterly pulse on hotel development trends from Lodging Econometrics
According to the Q3 2021 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the quarter, the hotel construction pipeline in the region stands at 545 projects/168,042 rooms. While the number of total pipeline projects has increased over the previous quarter, project counts are down 6% and room counts are down 19% year-over-year (YOY).
According to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that at the close of the third quarter of 2021, Europes hotel construction pipeline stands at 1,814 projects and 295,719 rooms; and remains largely unchanged year-over-year (YOY).
Twenty months into the Covid-19 pandemic, the Canadian tourism industry is now on a glide path to normalcy. Investor sentiment for the lodging asset class continues to improve with transaction volume through Q3 reaching nearly $1.1 billion, surpassing full-year volume in 2020 and pacing close behind comparable levels of pre-Covid investment activity in 2019.
According to the recent Construction Pipeline Trend Report for the Asia Pacific region from analysts at Lodging Econometrics (LE), Asia Pacifics total construction pipeline, excluding China, at end the third quarter of 2021 stands at 1,758 projects/382,434 rooms. Projects are down slightly year-over-year (YOY) by 3% while rooms are down 1% YOY
In the recently released China Construction Pipeline Trend Report by Lodging Econometrics (LE), at the end of the third quarter of 2021, Chinas total construction pipeline stands at 3,571 projects/681,095 rooms, up 5% by projects and 7% by rooms year-over-year (YOY).
China Room Counts Reach All-Time High in Q321
In the Q321 Latin America Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report the total construction pipeline stands at 577 projects/103,648 rooms. The regions pipeline project counts are down 14% and room counts are down 11%, year-over-year (YOY).
JLLs latest Global Real Estate Perspective looks at market dynamics during the last quarter and the prospects for the rest of the year and beyond.
Hotel prices continued to gain ground during the recent quarter, regaining losses incurred during the pandemic. Prices in all regions are reverting to their long-term average, with hotels in the Pacific and South Atlantic regions rising above their standardized average. Hotels in both gateway and non-gateway cities continue to exhibit positive performance, although hotels in the gateway cities have posted greater gains.