Keyword: Lodging Econometrics
At 710 hotel projects and 123,392 rooms, the pipeline is at its lowest number of projects since Q4 2013.
According to the latest report from Lodging Econometrics, construction pipeline projects are up 14 percent and rooms are up 20 percent year over year.
With 1,469 projects and 193,458 rooms in development, Marriott International’s U.S. pipeline grew 9 percent year over year.
Though current projects under construction stand at their highest level since 2008, new project announcements and conversions are in decline, according to Lodging Econometrics.
Mexican travelers are looking to Canada and Europe for international travel, but strong domestic tourism is the catalyst for developers.
China’s total construction pipeline is up 15 percent by hotels year over year, which Lodging Econometrics credits to increased government support.
These global companies account for 47 percent of the hotels and rooms in the region's pipeline.
Industry leaders gathered at the Marriott Marquis in Times Square last night as the NYU International Hospitality Investment Conference got underway.
Lodging Econometrics' latest Latin America hotel construction pipeline trend report shows region's pipeline down 8 percent overall year over year.
Growth in the number of properties in Canada has been moderate the past 10 years. But that is changing, with supply growth nearly tripling in 2019.