In the third quarter of 2018, analysts at Lodging Econometrics (LE) report that the top five markets with the largest total hotel construction pipelines are: New York City with 170 projects/29,630 rooms; Dallas with 157 projects/18,954 rooms; Houston with 150 projects/16,473 rooms; Los Angeles with 141 projects/24,129 rooms; and Nashville with 115 projects/15,179 rooms.
The leading brands by project count in the construction pipeline for each of these three companies are IHG's Holiday Inn Express with 422 projects/39,667 rooms, Hilton's Home2 Suites by Hilton with 401 projects/41,958 rooms, and Marriott's Fairfield Inn with 284 projects/27,678 rooms.
Analysts at Lodging Econometrics (LE) report that in the third quarter of 2018 the total U.S. construction pipeline stands at 5,376 projects/650,576 rooms, up 7% from 2017s 5,011 projects/608,837 rooms.
The Hotel Valuation Index analyses economic as well as hotel-market specific demand and supply dynamics to derive indicative values and future growth trends for the top 25 hotel markets in 12 countries in the Asia Pacific region.
Overcash Demmitt Architects Predicts Continued Growth in this Area
Analyzing historical trends, the key reason behind escalating costs per key continues to be low efficiency and utilization of space. It is crucial that any design optimizes the turnover per sqm of built areas.
GCC countries have supported and grown inbound tourism in the last 15-20 years. HVS remains confident that accommodated room night demand will grow despite the aggressive development pipeline.
From mega-mergers to niche acquisitions, consolidation is recalibrating the balance of power in the hotel industry as established operators get bigger and smaller brands seek new ways to differentiate themselves.
Lodging Econometrics (LE) has released its bi-annual Global Construction Pipeline Trend Report, which compiles the construction pipeline counts for every country and market around the world, states that the total global construction pipeline stands at 12,839 projects/2,158,422 rooms which are at all-time highs. The construction pipeline is up an extraordinary 86% by projects over the cyclical low established in 2011 when global counts were at 6,907 projects/1,257,296 rooms.
As the line between work and leisure trips continues to blur, serviced apartment operators are both fuelling and catering for this growing 'b-leisure' market.