Global Construction Pipeline Shows Steady Increase with Projects Up by 6 Percent YOY for 2016
March 28, 2017 1:42pm
March 28, 2017 – PORTSMOUTH, NH – The Lodging Econometrics (LE) Global Construction Pipeline Trend Report stated that the Total Pipeline ended 2016 with 11,776 Projects/1,962,676 Rooms, up 6% by projects Year-Over-Year (YOY). There were 5,504 Projects/1,012,987 Rooms Under Construction, up 4% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months, at 3,675 Projects/516,709 Rooms, were up a strong 21% while projects in Early Planning at 2,597 Projects/432,980 Rooms were down 7% by projects.
The leading franchise companies in the Global Construction Pipeline by project-count are: Marriott International with 2,190 Projects/368,077 Rooms, Hilton Worldwide with 1,841 Projects/283,326 Rooms, InterContinental Hotels Group (IHG) with 1,351 Projects/209,208 Rooms and Choice Hotels with 488 Projects/42,933 Rooms. The leading brands for each of these companies are: Marriott’s Fairfield Inn with 342 Projects/35,703 Rooms, Hilton’s Hampton Inn with 489 Projects/57,222 Rooms, IHG’s Holiday Inn Express with 602 Projects/73,282 Rooms, and Choice’s Comfort Inn with 117 Projects/11,239 Rooms.
The top countries by room-count are the United States with 598,688 Rooms/4,960 Projects and China with 525,640 Rooms/2,340 Projects. The U.S. accounts for 30% of the rooms in the Global Pipeline while China accounts for 27%, resulting in 57% of the Global Pipeline being concentrated in just two countries.
The cities with the largest pipeline room counts are: Dubai with 32,899 Rooms/117 Projects, New York with 30,541 Rooms/192 Projects, Seoul with 30,456 Rooms/154 Projects, Shanghai with 23,252 Rooms/125 Projects and Sanya with 22,629 Rooms/60 Projects.
Tags: lodging econometrics,
construction pipeline trend report
Lodging Econometrics (LE) is the lodging industry’s leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients’ business goals into timely opportunities.
Contact: Emily Dennison
North America Tops Global Construction Pipeline With 6,226 Projects Followed by Asia Pacific and EMEA
7% Year-Over-Year Growth in the Global Construction Pipeline With 12,631 Projects in Total Pipeline
Growth Remains Steady for China’s Construction Pipeline With Projects Up 6% YOY
Asia Pacific Pipeline Excluding China Is Booming With Projects Up 13% YOY
Europe Hotel Construction Pipeline Booming With 22% YOY Growth and Middle East Pipeline Up With 11% YOY Growth
Latin America's Construction Pipeline Stalling With Pojects Down 5% YOY
Projects in Canada's Construction Pipeline Up 17% YOY
Mid-Market Brands Led Hotel Sales Volume in 2017
Orlando Tops 2017 Markets with 21 Hotels Sold and Average Selling Price Per Room of $96,402
Hotel Sales Volume Declines, Average Price Per Room Increases Moderately
Extended-Stay Hotels Account for 27% of All Projects Under Construction
2.5% Growth Rate of New Hotel Openings Expected in 2018 & 2019
Upper Midscale and Upscale Projects Lead the U.S. Construction Pipeline Comprising 67% of Total Pipeline
Marriott, Hilton and IHG Lead U.S. Construction Pipeline Comprising 69% of Total Pipeline
Marriott Boasts Largest Franchise in U.S. Construction Pipeline with 1,410 Projects Total
The Year-End U.S. Hotel Construction Pipeline Continues Its Upward Growth Trend, Projects Up 4% YOY
North America, Asia Pacific and EMEA Lead World Regions in Global Hotel Construction Pipeline
Global Hotel Construction Pipeline Up 8% YOY with 12,427 Projects
Shanghai Leads China's Construction Pipeline Followed by Guangzhou, Chengdu and Beijing
Asia Pacific Construction Pipeline Excluding China Up 15% by Projects YOY
Please login or register to post a comment.