The City Momentum Index 2020 covers 130 major established and emerging markets to identify the cities that have the strongest positive momentum in their economies and real estate markets over the short to medium term.
Comparing a proprietary longitudinal data set on the operating performance generated by dual-branded hotels in the U.S. against a set of comparable single-branded hotels, we document mixed results. While dual- and single-branded hotels achieve similar occupancy percentages, dual-branded hotels generate higher average daily rate and revenue per available room.
Analysts at Lodging Econometrics (LE) report that in the third quarter of 2019, Europes hotel construction pipeline climbed to record high counts with 1,710 projects and 264,080 rooms, an 18% increase in projects and a 16% increase in rooms year-over-year (YOY).
Despite the relatively high cost of construction and complexity of operations, developers are still attracted to owning and managing luxury hotels. As of August 2019, STR reports that just 0.7 percent of the hotels (2.3% of rooms) in the United States are chain-affiliated luxury hotels. Concurrently, the STR pipeline report shows that 1.2 percent of the properties (2.9% of rooms) either under construction or planned for development meet this criterion.
The 2019 Western Canadian Lodging Conference (WCLC) that was held on November 25 and 26, 2019 in Vancouver. Caution was the dominant sentiment expressed at the event as the industry expects a slowdown in the near term.
In the recently released report from analysts at Lodging Econometrics (LE), Asia Pacifics total construction pipeline, excluding China, continues in a four-quarter topping out formation with 1,779 projects/389,830 rooms, up 2% and 6% respectively, year-over-year (YOY).
More hotel investors are turning away from the traditional route of working with local development partners.
The supply of hotel rooms in Australia surpassed 300,000 as of November, according to STR and AM:PM.
Analysts at Lodging Econometrics (LE) report that at the end of the third quarter of 2019, Chinas total construction pipeline has grown to 3,380 projects/628,972 rooms.
During the execution of numerous transactions during 2019, the HVS Brokerage & Advisory team has fielded a myriad of questions from buyer groups about the impact of needed PIPs on asset prices. We are seeing increased variability in PIPs. Thus, a buyer groups estimate is of paramount importance.