Asia Pacific’s Hotel Construction Pipeline, Excluding China, Continues in a Topping-Out Formation
Lodging Econometrics | December 10, 2019
December 10, 2019 – PORTSMOUTH, NH – In the recently released report from analysts at Lodging Econometrics (LE), Asia Pacific’s 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). The region currently has 958 projects/221,927 rooms under construction. There are 391 projects/78,032 rooms scheduled to start construction in the next 12 months and 430 projects in the early planning stage with room counts at an all-time high of 89,871 rooms. Brand conversions are also at an all-time high. Excluding China, the ...
China’s Hotel Construction Pipeline Has Grown to Record High
Lodging Econometrics (LE) | December 5, 2019
December 05, 2019 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that at the end of the third quarter of 2019, China’s total construction pipeline has grown to 3,380 projects/628,972 rooms. Currently, the country has 2,548 projects with 438,797 rooms under construction with projects scheduled to start construction in the next 12 months at 404 projects with 85,026 rooms. Projects in the early planning stage have 428 projects/105,149 rooms. Hotel development continues to thrive despite the continued economic struggles in the region and the on-going trade and tariff disputes with the United States. In the third quarter,...
CBRE Issues U.S. Lodging and 2020-2021 Historic Hotels Forecast at Historic Hotels of America Annual Conference
Historic Hotels of America® | December 4, 2019
Historic Hotels forecast 1.2% advance in market RevPAR is better than the national projection of 0.8% increase for Upper-Upscale and Luxury Hotels. WASHINGTON, DC – December 4, 2019 The outlook for the U.S. lodging industry continues to be less strong than prior years, according to CBRE Hotels Research (CBRE), but Historic Hotels RevPAR will be impacted less and be relatively stronger than other segments of the industry over the next two years. For the sixth consecutive year, CBRE Hotels Research presented a Historic Hotels of America – CBRE two-year forecast at the Historic Hotels of America annual conference. CBRE relies on histor...
U.S. GOPPAR Turns Negative After Recent Gains
HotStats | December 3, 2019
Two consecutive months of profit gain were spoiled as the start of the fourth quarter brought with it a year-over-year downturn in GOPPAR for U.S. hotels. According to HotStats data, GOPPAR in October was down 2.8% versus the same month last year, a symptom of expense creep and a dive in top-line revenue. The negative turn comes on the heels of two months of positive YOY profit gains. Year-to-date GOPPAR is down 0.3% and down 0.7% on a rolling 12 months. RevPAR for the month was down 2.1% YOY, the result of a 1.8% YOY drop in average room rate and a 0.3-percentage-point dip in occupancy. The decrease in rooms revenue, along with a...
Canadian Lodging Outlook Quarterly 2019-Q3
HVS Canada | November 27, 2019
RevPar growth across Canada is flat through the third quarter of 2019. On a provincial level, BC leads the pack with over 3.0% growth with Quebec on its heels at 2.5%. Newfoundland struggles to absorb new supply with a near 6.0% decline and Manitoba's softer market leads to a 3.0% decrease. HVS and STR are pleased to provide you with the quarterly report of the Canadian Lodging Outlook. Each report includes occupancy (occ), average daily rate (ADR), and revenue per available room (RevPAR) for six major markets. Source: STR Source: STR If you would like a detailed hotel performance data for all of Canada, STR offers their Ca...
HVS Market Pulse: Interstate 5 Corridor Tourism Destinations in Oregon
Breanna S. Smith | November 26, 2019
By Breanna S. Smith, Lauren Reynolds Salem Salem, the state capital of Oregon, has not historically been known as a tourism destination. However, in recent years, the city’s local economy has diversified to include manufacturing, distribution, and technology. Thus, with the expansion of economic drivers and the increased population, Salem has entered a period of revitalization in order to offer more retail, dining, and entertainment facilities. This has also increased Salem’s attractiveness as a tourism destination. Furthermore, a vision for the rejuvenation of one the premier attractions in the area, Riverfront Park, is fostering high ...
HVS Market Pulse: Madison, Wisconsin
Dana Floberg | November 25, 2019
By Dana Floberg Madison, the state capital and seat of government for the state of Wisconsin, is home to a diverse economy, including education, healthcare, insurance, government, and technology. Although long home to the University of Wisconsin – Madison and American Family Insurance, it was the growth of Epic Systems Corporation and other healthcare technology companies and services that spurred downtown hotel and residential development over the last ten years. Increased demand for highly educated workers led to greater retention in the market of recent college graduates and improvements in quality of living. Government, Commercial, ...
The Latin America Hotel Construction Pipeline Room Count Up Slightly Quarter Over Quarter
Lodging Econometrics (LE) | November 22, 2019
November 22, 2019 – PORTSMOUTH, NH – In the recent Latin America construction pipeline trend report from Lodging Econometrics (LE), the total construction pipeline stands at 723 projects/131,075 rooms. Pipeline room counts are up slightly at 4%, year-over-year (YOY), and are still near all-time lows. However, the luxury stage at 86 projects/15,366 rooms and upper upscale at 101 projects/21,072 rooms are at the highest levels ever recorded by LE. Projects presently under construction stand at 334 projects/60,720 rooms. Projects scheduled to start construction in the next 12 months stand at 205 projects/35,199 rooms, up 5% and 15% respec...
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