Global Construction Pipeline Up 6% by Projects YOY for First Quarter
June 26, 2017 1:08pm
June 27, 2017 – PORTSMOUTH, NH
Lodging Econometrics' (LE) Global Construction Pipeline Trend Report states that the Total Pipeline ended the first quarter with 11,904 Projects/1,974,439 Rooms, up 6% by projects Year-Over-Year (YOY).
There are 5,496 Projects/1,009,227 Rooms Under Construction, up 4% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months, at 3,753 Projects/532,814 Rooms, are up a strong 17% while projects in Early Planning at 2,655 Projects/432,398 Rooms are down 2% by projects.
The leading franchise companies in the Global Construction Pipeline by project-count are: Marriott International with 2,159 Projects/363,672 Rooms, Hilton Worldwide with 1,993 Projects/300,524 Rooms, InterContinental Hotels Group (IHG) with 1,336 Projects/204,991 Rooms and Choice Hotels with 561 Projects/47,155 Rooms. The leading brands for each of these companies are: Marriott’s Fairfield Inn with 332 Projects/35,089 Rooms, Hilton’s Hampton Inn with 547 Projects/65,211 Rooms, IHG’s Holiday Inn Express with 595 Projects/72,113 Rooms, and Choice’s Comfort Suites with 127 Projects/10,596 Rooms.
The top countries by room-count are the United States with 602,034 Rooms/5,032 Projects and China with 534,285 Rooms/2,441 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 35,882 Rooms/125 Projects, New York with 29,447 Rooms/185 Projects, Seoul with 27,084 Rooms/148 Projects, Shanghai with 25,406 Rooms/133 Projects and Guangzhou with 22,727 Rooms/ Projects.
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global construction pipeline,
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
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