Keyword: Lodging Econometrics
The promise of a worthwhile and sustainable ROI remains a key goal of owners and developers who go the new-build route in the upscale segment.
At 14,051 projects and 2,327,923 rooms, the total global hotel-construction pipeline reached a record high by the end of Q2.
Should all new hotels open as scheduled in the next two years, Europe's current count of 2,885,630 guestrooms will grow 7 percent.
The region's pipeline has continued to improve despite slowing economies and growth uncertainties in China.
According to Lodging Econometrics, China’s total construction pipeline is up 19 percent by hotels and 7 percent by rooms year over year.
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.