Keyword: Lodging Econometrics
Hotel companies continue to grapple with online travel agencies for guest bookings and a new study from Rockville, Md.-based Kalibri Labs indicates their efforts have not been in vain.
The brand revolution is coming to Europe where developers see value in some key emerging destinations, as well as some that are re-emerging.
Across China, Lodging Econometrics expects 661 new hotel openings for 2019 and 604 in 2020.
Excluding China, the Asia Pacific region had 274 new hotels with 48,822 rooms open at the close of the third quarter, with a total of 345 set to open by the end of 2018.
After a strong August, hotels in Jeddah, Saudi Arabia, faced drops in occupancy, rates and revenue in November.
Europe’s total hotel-construction pipeline—in a three-year surge—stands at 1,449 projects with 228,588 rooms, according to Lodging Econometrics.
New-pipeline-project counts are up 8 percent while room counts show a 15-percent increase year-over-year.
Ford spent 20 years at the Dunfey Hotel Company before founding Lodging Econometrics in 1995.
The global pipeline has 5,988 hotels with 1,133,017 rooms currently under construction.
The total hotel-construction pipeline in the Asia-Pacific region, excluding China, is in its fifth year of growth and is at an all-time high.