The Middle East’s Hotel Construction Pipeline Shows Growth in the First Quarter
Lodging Econometrics (LE) | May 24, 2023
May 24, 2023 – PORTSMOUTH, NH According to the Q1 2023 Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE), the hotel construction pipeline in the region increased to 581 projects/147,356 rooms, up 8% by projects and 6% by rooms year-over-year (YOY). Hotel development counts in the Middle East continue to increase through the first quarter, largely due to the strong inflow of demand for lodging options in the region. The Middle East has become one the world’s fastest-growing tourism destinations - hosting major cultural, religious, and sporting events, which has helped propel demand and occupancy throu...
The Hotel Construction Pipeline in the Asia Pacific Region, Excluding China, Remains Steady at Q1 2023
Lodging Econometrics (LE) | May 17, 2023
May 17, 2023 – PORTSMOUTH, NH As seen in Lodging Econometrics’ (LE’s) most recent Asia Pacific Construction Pipeline Trend Report, excluding China, analysts state that the region ended the first quarter of 2023 with 1,885 projects/394,235 rooms in the total pipeline. The region currently has 943 projects under construction, with 213,900 rooms, and 300 projects with 59,170 rooms scheduled to start construction in the next 12 months. Project counts in the early planning stage hit record highs of 642 projects/121,165 rooms, up 12% by projects and 5% by rooms year-over-year (YOY). The Asia Pacific, excluding China, region also saw 171 ne...
Marriott, Hilton, and IHG Continue to Dominate the U.S. Hotel Construction Pipeline
Lodging Econometrics (LE) | May 2, 2023
May 2, 2023 – PORTSMOUTH, NH In the recently released United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts detailed the leading franchise companies and their brands in the construction pipeline at the close of the first quarter. Marriott International (Marriott) tops the charts with the greatest number of projects in the U.S. hotel construction pipeline, at Q1 2023, with 1,499 projects/181,377 rooms, followed closely by Hilton Worldwide (Hilton), with a record-high count of 1,436 projects/161,359 rooms, and then InterContinental Hotels Group (IHG) with 809 projects/80,679 rooms. Combined, these three fra...
Marriott International Inks Landmark Agreement With Rua Al Madinah Holding Company to Open Eight Hotels in Saudi Arabia
Marriott International | March 20, 2023
Marriott International, Inc. announced it has signed an agreement with Rua Al Madinah Holding Company to open eight hotels in the Holy City of Madinah in Saudi Arabia. Located in close proximity to the Prophet’s Mosque, Al Masjid An Nabawi, the planned properties will be part of the Rua Al Madinah Project which aims to elevate the service and travel experience for visitors of Madinah. The anticipated openings will feature approximately 4,400 rooms across eight of the company’s brands – The Ritz-Carlton, JW Marriott, Marriott Hotels, Westin Hotels & Resorts, Le Méridien Hotels & Resorts, Four Points by Sheraton, Aloft Hotels, an...
Projects in the Early Planning Stage of the Global Hotel Construction Pipeline Reach Record High Counts at 2022 Year-End
Lodging Econometrics (LE) | February 27, 2023
February 27, 2023 – PORTSMOUTH, NH – Lodging Econometrics (LE) has released its Q4 year-end Global Construction Pipeline Trend Report. At the close of 2022, LE analysts state that the total global construction pipeline stands at 14,267 projects, a 4% increase year-over-year (YOY), with 2,298,846 rooms. The global pipeline has remained relatively flat for three consecutive years, following the onset of the COVID-19 pandemic, after reaching peak project and room counts in Q4 2019. However, three of the seven world regions tracked by LE, the United States, Canada, and Asia Pacific, continue to have pipelines trending upward, YOY. The remaini...
Major Hotel Franchises Companies Move Forward With Construction Projects in Europe Despite Economic Slowdown
Lodging Econometrics (LE) | February 15, 2023
February 15, 2023 – PORTSMOUTH, NH In the year-end 2022 Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report that at the close of the fourth quarter, Europe’s total construction pipeline stands at 1,711 projects/260,911 rooms. At the Q4 close, there are 784 projects/123,377 rooms currently under construction, 403 projects/60,724 rooms scheduled to start construction in the next 12 months, and projects in the early planning stage reached a record-high count of 524 projects, accounting for 76,810 rooms. Despite slowed economic growth throughout the region in 2022, Europe remains the most popu...
Project and Room Counts in All Stages of the U.S. Hotel Construction Pipeline Increase YOY at Q4 2022 Close
Lodging Econometrics (LE) | January 23, 2023
January 23, 2023 – PORTSMOUTH, NH In the most recent Construction Pipeline Trend Report for the United States (U.S.) from Lodging Econometrics (LE), at the close of 2022’s fourth quarter, the U.S. construction pipeline stands at 5,465 projects/650,626 rooms, up 14% by projects and 12% rooms Year-Over-Year (YOY). In Q4, all stages of hotel construction in the U.S. experienced positive YOY growth. At the close of the quarter, there are 1,008 projects/135,492 rooms under construction, up 4% by projects and 3% rooms YOY. Projects scheduled to start construction in the next 12 months stand at 2,073 projects/235,222 rooms, up 14% by proje...
STR: U.S. Hotel Construction Up Year Over Year for First Time Since Late 2020
STR | January 18, 2023
HENDERSONVILLE, Tennessee—After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December, according to pipeline data from STR. At a market-level, New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. Among the chain scales, the Luxury and Upscale segments lead in that measurement. U.S. Hotel Pipeline December 2022 (percentage change in comparison with December 2021): In Construction: 159,344 rooms (+0.3%) Final Planning: 213,066 rooms (+15.0%) Planning: 240,092 rooms (-15.6%) “While the overall pipeline ...
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