Global Construction Pipeline: up 5% Y-O-Y, US leads, Asia slows while IHG leads in Asia, US: 21% still to select brand
Global Construction Pipeline: up 5% Y-O-Y, US leads, Asia slows while IHG leads in Asia, US: 21% still to select brand.
http://www.bizjournals.com/seattle/news/2016/06/22/8-660-homes-2-940-hotel-rooms-record-construction.html
Sunday, 10th July 2016
Source : Lodging Econometrics (LE)
According to the latest Global Construction Pipeline Trend Report from Lodging Econometrics (LE), the top five cities with the largest construction pipelines in the world by project count are: New York with 187 Projects/32,136 Rooms; Jakarta with 130 Projects/22,851 Rooms; Seoul with 128 Projects/27,187 Rooms; Shanghai with 114 Projects/24,285 Rooms; and Dubai with 104 Projects/29,948 Rooms.
Lodging Econometrics(LE) reports that the countries with the largest construction pipelines in the world are the United States with 4,471 Projects/551,965 Rooms and China with 2,448 Projects/549,222 Rooms. Following at a distance are: Brazil with 407 Projects/70,833 Rooms; Indonesia with 398 Projects/64,695 Rooms; and India with 314 Projects/47,566 Rooms.
Excluding the U.S., the remaining four countries had shrinking pipelines in the last year, down an average of 12% by projects. India recorded the largest drop with a decrease of 19% by project count.
21% of U.S. Hotel Pipeline Yet to Select a Brand
According to a recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), there are 715 pipeline projects with 113,465 rooms, 21% of the Total Pipeline, that have yet to select a brand. Of these 715 projects 139 are for full-service hotels, 555 are select service and 121 are limited service.
Global Hotel Construction Led by U.S.
According to the latest Global Construction Pipeline Trend Report from Lodging Econometrics (LE), the worldwide Pipeline is at 11,196 Projects/1.9 million Rooms, the highest level LE has ever recorded.
The Global Pipeline is up 5% Year-Over-Year (YOY) by projects and 6% by rooms. Growth is led by the United States which now has 40% of the world’s projects and 29% of its rooms in the Pipeline.
Globally there are 5,277 Projects/990,669 Rooms currently Under Construction, down 1% by projects and up 1% by rooms. Projects scheduled to Start Construction in the Next 12 Months, at 3,214 Projects and 466,129 Rooms, is up 24% by projects and 22% by rooms. Projects in Early Planning, with 2,705 Projects/462,016 Rooms, is down 1% by projects and up 3% by rooms.
IHG Leads Hotel Construction Pipeline in Asia
With 122 Projects/27,943 Rooms Intercontinental Hotels Group (IHG) has the largest brand presence by both project and room count in Asia’s Hotel Construction Pipeline for countries outside of China,
Lodging Econometrics (LE) reports. IHG’s top two brands in the region are its Holiday Inn with 48 Projects/11,742 Rooms and Holiday Inn Express with 40 Projects/8,753 Rooms. These two brands represent 72% of all IHG pipeline projects in the region.
IHG also leads by both project and room count in China with 215 Projects/61,227 Rooms, said LE, led by its Holiday Inn Express brand.
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