During the three years preceding the onset of the COVID-19 pandemic, Las Vegas had entered a cycle of new development after the prolonged recovery from the 2008 Great Recession. The ongoing construction of major demand generators throughout the closure period is important to the eventual recovery of the Las Vegas market. This article summarizes the available information regarding the status of major tourism-related projects in the Las Vegas market.
While numerous lodging brands are available to hotel owners through franchises, new brands continue to emerge. In 2020, several new brands have been introduced, providing unique niches in the marketplace to meet the demands of both hotel owners and guests. This article reviews the brands announced in 2020 and considers how they are poised to operate during the current economic climate.
It was the spring of 2019 and Beach Enclave (BE), a company that designed, built and operated luxury private villa resorts on Turks and Caicos Islands (TCI) in the Caribbean, had just celebrated its second anniversary. A relatively novel concept in the lodging industry, Beach Enclaves villas offered guests the impeccable design, exceptional amenities and personalized experiences & services of a luxury resort in the privacy of a full home.
Analysts at Lodging Econometrics (LE) state in the first quarter of 2020, the hotel construction pipeline in the Middle East decelerated slightly to 607 projects/172,182 rooms, down 3% and 5% respectively, year-over-year (YOY).
Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2020, Europes hotel construction pipeline expanded to near-record highs with 1,840 projects and 294,047 rooms, a 10% increase in projects and a 15% increase in rooms, year-over-year (YOY).
According to the recent report from analysts at Lodging Econometrics (LE), Asia Pacifics total construction pipeline, excluding China, expanded to 1,905 projects/404,903 rooms, up 6% and 5% respectively, year-over-year (YOY).
Analysts at Lodging Econometrics (LE) report that despite the COVID-19 outbreak, China's total construction pipeline continues to expand to an all-time high of 3,533 projects/645,764 rooms, up 24% by projects and 9% by rooms year-over-year (YOY).
In the recent Latin America Hotel Construction Pipeline Trend Report, analysts at Lodging Econometrics (LE) state that the total construction pipeline stands at 702 projects/124,050 rooms, down 2% by projects and up less than 1% by rooms, year-over-year (YOY).
Investors double down on defensive strategies in taking a more cautious approach
Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2020, the total construction pipeline in Canada remains strong with 304 projects and an all-time high of 40,291 rooms. The construction pipeline is up an impressive 15% by projects and 22% by rooms, year-over-year (YOY).