Development
China’s Hotel Construction Pipeline Hits Record High Project & Room Counts at Q1 2022
Lodging Econometrics | May 19, 2022
May 19, 2022 – PORTSMOUTH, NH According to the latest Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of Q1 ‘22, China’s total hotel construction pipeline reached record high project and room counts, standing at 3,711 projects/704,101 rooms and up 8% by projects and 7% by rooms year-over-year (YOY). China has 2,623 projects/477,245 rooms presently under construction, both at record highs, and up 11% and 12% YOY, respectively. Projects scheduled to start construction in the next 12 months stand at 504 projects/96,054 rooms. Projects and rooms in the early planning stage are up 26% and 17% YOY, respective...
Hyatt & Gencom Propose Redevelopment of the Downtown Miami Hyatt Site
Gencom | May 11, 2022
Miami – May 11, 2022 – Hyatt has teamed up with Miami-based luxury hospitality and residential developer Gencom, with the goal of redeveloping Downtown Miami’s iconic Hyatt Regency Miami, improving access in and out of the urban core, and activating a key piece of Miami’s riverfront. The Hyatt and Gencom venture is proposing a privately funded redevelopment that will comprise a reimagined upscale Hyatt Regency hotel with 615 hotel rooms and premium meeting space, more than 1,500 residential apartments, and open-air public space along the Miami River. The proposed development seeks to amend and restate the ground lease that ushered i...
Premier to Partner With Blueprint Hospitality to Transform Historic Office Building Into San Antonio Hotel
Premier | May 11, 2022
DALLAS, TX, MAY 11, 2022 – Premier, an end-to-end architecture, design, procurement, and capital management firm, is pleased to announce that the firm will lead the redevelopment and conversion of the former CPS Energy headquarters to a hotel property in San Antonio. In partnership with Blueprint Hospitality, Premier will spearhead the project from design to completion using their expertise and full suite of services, including interior design, architecture, procurement, project management, and capital management for the historic conversion. “We are excited to be partnering with Blueprint once again for this new project in San Antonio,â€...
U.S. Hotel Construction Pipeline Projects Up Slightly Year-Over-Year
Lodging Econometrics | April 25, 2022
April 25, 2022 – PORTSMOUTH, NH - According to the Q1 2022 Construction Pipeline Trend Report for the United States from Lodging Econometrics (LE), the total U.S. construction pipeline stands at 5,090 projects/606,302 rooms at the end of the first quarter of 2022. LE analysts report that the total U.S. construction pipeline shows a small increase year-over-year (YOY), up 2% by projects, but down 3% by rooms. At Q1‘22, there are 961 projects/128,784 rooms currently under construction, down 27% by projects and 28% by rooms YOY. Projects scheduled to start in the next 12 months, at 1,911 projects/223,030 rooms, are up 2% by projects and 3...
Decline Continues in U.S. Hotel Construction, but Planning Activity is Up
STR | April 14, 2022
HENDERSONVILLE, Tennessee — April 14, 2022 — While a steady hotel construction decline continues nationally, volume in New York City and Nashville represents a significant percentage of those markets’ existing supply. Additionally, planning activity continues to rise nationally with markets like Miami, Phoenix and San Francisco showing increased interest from developers, according to STR. U.S. Hotel Pipeline March 2022 (percentage change in comparison with March 2021): In Construction: 154,881 rooms (-15.7%) Final Planning: 177,756 rooms (-16.8%) Planning: 297,046 rooms (+26.3%) New York City ...
Electra America Hospitality Group Purchases Brand New West Palm Beach Property to Transform to Luxury Hotel Residence
Electra America | April 14, 2022
West Palm Beach, FL – April 14, 2022 – Electra America Hospitality Group (EAHG), a joint venture between Electra America and AKA, has acquired a brand new property in downtown West Palm Beach that will be transformed into an upscale, hotel residence catering to the city’s rapidly growing corporate and leisure travel community. The joint venture purchased the newly built, six- story building located at 695 S. Olive Avenue, for $84 million from developer Transwestern Development Company. It is conveniently located within walking distance of historic Clematis Street, the Brightline West Palm Beach train station, numerous restaurants and...
Courtyard By Marriott Santo Domingo Reopens Following Multimillion-Dollar Renovation
Courtyard by Marriott | April 13, 2022
SANTO DOMINGO, DOMINICAN REPUBLIC – April 13, 2022 – Nestled in the heart of Santo Domingo’s financial district, Courtyard by Marriott Santo Domingo announces its reopening following a comprehensive renovation of public areas and guest rooms which now offer flexibility to work, gather and relax. With an investment of approximately $5 million by developer SH Group dedicated to the construction of large complexes, this renovation has prepared the property to exceed guest and visitor expectations. It also reinforces the developer’s partnership with Marriott International, which together have launched and operated several properties i...
Embassy Suites by Hilton Kicks off Strong Year of Growth for 2022
Embassy Suites by Hilton | April 12, 2022
MCLEAN, VA - April 12, 2022 - Known for providing both leisure and business travelers with an approachable, upscale experience, Embassy Suites by Hilton will debut eight new properties in 2022, marking a year of strong brand growth. The newest location in Round Rock, Texas, Embassy Suites by Hilton Round Rock, opened on April 4 and establishes a busy development year for the full service all-suites brand. Embassy Suites currently offers more than 255 hotels in five countries and territories, and has a staunch pipeline of 40 properties, with notable upcoming openings that include the 506-room Embassy Suites by Hilton Nashville Downtown, ...
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