Press & Media

Press & Media

Read recent LE press releases for an inside look at global lodging real estate news, regional and individual market insights, and growth trends for leading Franchises Companies and brands.

  1. Lodging Econometrics’ Patrick H. Ford Receives Lifetime Achievement Award at The Lodging Conference July 11, 2018
    October 2, 2018 – PORTSMOUTH, NH – Patrick H. Ford, Chairman, CEO, and Founder of Lodging Econometrics (LE) and New England Hotel Realty (NEHR) of Portsmouth, NH, has received the 2018 Lifetime Achievement Award for the hospitality industry, which was presented at The Arizona Biltmore on September 25, 2018. The Lodging Conference’s founder and producer, Harry Javer and hospitality veteran Michael A. Leven, chairman and CEO of Georgia Aquarium, presented the award to Ford.  Nearly two thousand industry members were in attendance at this year’s conference.

    The prestigious Lifetime Achievement Award recognizes an individual who has provided outstanding, life-long contributions to the hospitality industry.  In a career spanning more than 50 years, Pat Ford began his career with the Dunfey Hotel Company, the predecessor to the Omni Hotel Company, where he spent 20 years in a variety of operational and executive roles. He then created and developed New England Hotel Realty as the largest, full-service hotel brokerage firm in the Northeast. In 1995, at the urging of a number of hotel companies and Wall Street Investment Firms, he founded Lodging Econometrics (LE) to compile lodging development and transaction data for the U.S.

    Within two years, LE replicated their development research programs in every country of the world. Shortly thereafter, LE positioned away from solely being a data provider towards being a lodging sales and marketing specialty firm as well as providing a variety of customized new hotel construction and supply side databases, and trend line and forecast reports that assist franchise development teams, investor groups and vendors to grow their business within the lodging industry. In 2017, Lodging Econometrics was honored by the Peter Paul School of Business at the University of New Hampshire as the most outstanding family business in New Hampshire.

    In Ford’s acceptance speech he said, “My career has been chuck-a-block full of opportunities and blessings. Like any lifelong journey it’s required hard work and an ongoing dedication to personal growth. But those are the requirements of any successful journey. I’ve lived a charmed life! It’s been a great ride! The industry is in my blood and it will continue to stimulate my interest until the end.”

  2. Global Construction Pipeline Projects Have Been Ascending for 4.5 Years and Have Reached Record Highs September 21, 2018
    Lodging Econometrics (LE) has released its bi-annual Global Construction Pipeline Trend Report, which compiles the construction pipeline counts for every country and market around the world, states that the total global construction pipeline stands at 12,839 projects/2,158,422 rooms which are at all-time highs. The construction pipeline is up an extraordinary 86% by projects over the cyclical low established in 2011 when global counts were at 6,907 projects/1,257,296 rooms.

    There are 5,988 projects/1,133,017 rooms currently under construction worldwide. Projects scheduled to start construction in the next 12 months are at 3,945 projects/570,731 rooms, both counts are at record highs. Projects in the early planning stage stand at 2,906 rooms/454,674 projects, just 134 projects short of the record high established in the fourth quarter of 2017.

    The top countries by project count are the United States, which has been rising since 2011, with 5,312 projects/634,501 rooms and China with 2,523 projects/556,645 rooms which has been topping out for the last 4.5 years. The U.S. accounts for 41% of projects in the total global construction pipeline while China accounts for 20%, resulting in 61% of projects in the global pipeline being concentrated in just these two countries. Distantly following are Indonesia with 394 projects/66,759 rooms, Germany with 247 projects/47,155 rooms, and the United Kingdom with 247 projects/36,487 rooms.

    The cities with the largest pipeline counts are New York with 169 projects/29,365 rooms, Dubai with 163 projects/47,783 rooms, and Dallas with 156 projects/18,908 rooms. Followed by Houston with 150 projects/16,321 rooms, and Shanghai with 121 projects/24,759 rooms. Of the top 10 cities having pipelines with more than 100 projects, 6 are located in the U.S. while 3 are located in China.

    The leading 5 franchise companies in the global construction pipeline by project count are Marriott International with 2,324 projects/391,058 rooms, Hilton Worldwide with 2,202 projects/327,723 rooms, InterContinental Hotels Group (IHG) with 1,653 projects/244,038 rooms, AccorHotels with 809 projects/147,647 rooms, and Choice Hotels with 1,024 projects/84,350 rooms. Hyatt, at 212 rooms/45,117 projects, is also significant with their portfolio of large luxury and upper upscale projects as well Best Western with 275 projects/29,243 rooms which are concentrated in the middle three chain scales.

    The twenty-five-year explosion of hotel brands now totals 610 globally. Marriott leads with 29 labels, followed by Accor with 25, Hilton with 15 each, IHG and Hyatt with 12 each, and Choice with 11 brands.

    Leading pipeline brands for each of these companies are Marriott’s Fairfield Inn with 345 projects/37,224 rooms, Hilton’s Hampton Inn with 604 projects/77,193 rooms, IHG’s Holiday Inn Express with 713 projects/88,689 rooms, AccorHotels ibis Brands with 358 projects/53,387 rooms, and Choice’s Comfort brands with 322 projects/26,878 rooms.

    As a result of record pipeline totals, new hotel openings continue to hit record levels. In 2020, totals could reach a lofty 3,000 new hotel openings, approximately 1,250 of them being in the U.S.

  3. Asia Pacific’s Construction Pipeline, Excluding China, is in its 5th Year of Growth and May Be Nearing its Peak September 14, 2018
    In a recent report, analysts at Lodging Econometrics (LE) report that Asia Pacific’s total construction pipeline, excluding China, is in its 5th year of growth and is at an all-time high of 1,749 projects/369,045 rooms. These pipeline totals are up a remarkable 306% by rooms and 270% by projects from the cycle’s low of 473 projects/90,946 rooms recorded in the first quarter of 2007 when LE first began tracking development in Asia.

    Countries in the region are facing strong economic headwinds. Economies are slowing and many currencies compared to the dollar are falling, adversely affecting real estate investment. The evidence suggests that the pipeline peak may soon be near.

    At the end of the second quarter, projects currently under construction soared to a record high 968 projects/215,523 rooms, as developers rushed to get their projects in the ground. Projects scheduled to start construction in the next 12 months stand at 379 projects/74,556 rooms and projects in the early planning stage stand at 402 projects/78,966 rooms.

    The Asia Pacific region had 173 new hotels/30,332 rooms open in the first half of the year, with another 187 new hotels expected to open in the second half, bringing the total forecast for new hotel openings to 360 by the end of 2018. The LE forecast anticipates new hotel openings to continue ascending with 385 new hotels expected to open in 2019 and 399 in 2020.

    Top countries in Asia Pacific’s construction pipeline, excluding China, continue to be led by Indonesia with 394 projects/66,759 rooms. India follows with 214 projects/33,535 rooms, then Japan with 206 projects/41,146 rooms. Next are Thailand with 142 projects/34,381 rooms and Malaysia with 140 projects/37,332 rooms, both Thailand and Malaysia show construction pipeline counts at all-time highs.

    Cities in the Asia Pacific region with the largest construction pipelines include Jakarta, Indonesia with 101 projects/19,325 rooms; Seoul, South Korea with 80 projects/15,490 rooms; Tokyo, Japan with 67 projects/15,322 rooms; Kuala Lumpur, Malaysia with 57 projects/14,974 rooms; and Bangkok, Thailand with 52 projects/11,975 rooms.

    The top four franchise companies, accounting for 40% of guest rooms in the total construction pipeline, are AccorHotels with 223 projects/47,221 rooms and Marriott International with 210 projects/48,325 rooms. InterContinental Hotels Group (IHG) with 147 projects/33,616 rooms follows along with Hilton Worldwide’s 86 projects/18,997 rooms. Both IHG and Hilton show double-digit pipeline growth YOY and their counts are at record highs.

    Top brands in Asia Pacific’s construction pipeline, excluding China, include AccorHotels’ Ibis brands with 74 projects/14,811 rooms and Novotel with 46 projects/10,765 rooms. Marriott International’s Courtyard has 30 projects/5,927 rooms and Sheraton has 27 projects/6,560 rooms. IHG’s Holiday Inn has 58 projects/14,288 rooms and Holiday Inn Express has 34 projects/6,968 rooms, while Hilton Worldwide’s DoubleTree has 31 projects/6,474 rooms and the full-service Hilton Hotel & Resort has 27 projects/6,719 rooms. IHG’s Holiday Inn and Hilton’s DoubleTree and full-service Hilton Hotel brands are also at record highs.

  4. China’s Hotel Construction Pipeline Totals are in a Record-Setting 4.5 Year Topping Out Formation, While Major Brands Are Hitting All-Time Highs September 14, 2018
    According to analysts at Lodging Econometrics (LE), the total China construction pipeline stands at 2,523 projects/556,645 rooms. At the second quarter, the 2018 construction pipeline is slightly less than the all-time high of 2,658 projects/557,716 rooms set in the fourth quarter of 2014 and is up 5% by projects year-over-year (YOY).

    Projects presently under construction are at 1,814 projects/389,328 rooms, projects starting construction in the next 12 months are at 367 projects/78,361 rooms, and projects in the early planning stage are at 342 projects/88,956 rooms.

    Despite an economic slowdown, a falling stock market, and continued concerns about a possible war on tariffs, pipeline totals remain at or near all-time highs, as the hotel construction boom continues.

    New hotel openings in the first half of 2018 were 173 hotels/35,585 rooms. The LE forecast for new hotel openings expects another 461 projects/71,788 rooms to open in the second half of 2018, bringing expected new hotel openings to 634 projects/107,373 rooms by year-end 2018. In the years following, 548 new hotel openings are expected in 2019 and 540 in 2020.

    With major global brands developing hotels at a record pace in the period between 2016-2020, new hotel openings will have skyrocketed in size from an average of 144 rooms in 2016 to 244 rooms in 2020. This shift is characterized by far fewer small economy scale projects in the pipeline and an increase of larger upper upscale projects, many of which are part of mixed-use developments.

    Shanghai and Guangzhou continue to lead China’s total construction pipeline with 121 projects/24,759 rooms, and 108 projects/26,022 rooms, respectfully. Guangzhou’s construction pipeline is at an all-time high. The city has shown continued growth, rising to a 300% increase in projects since the pipeline bottomed in the second quarter of 2008 with a mere 27 projects. These cities are followed by Chengdu with 88 projects/20,051 rooms; Hangzhou with 79 projects/17,904 rooms; and Suzhou with 74 projects/14,597 rooms.

    Top franchise companies in China’s construction pipeline are all hitting record highs. They are led by Hilton Worldwide with 375 projects/84,964 rooms; InterContinental Hotels Group (IHG) with 314 projects/74,611 rooms; and Marriott International with 285 projects/79,663 rooms. These three companies make up an impressive 43% of rooms in the total hotel construction pipeline.

    The leading brands in the construction pipeline for these companies are Hilton’s Hampton Inn with 185 projects/28,590 rooms and DoubleTree with 59 projects/19,784 rooms; IHG’s Holiday Inn Express with 137 projects/26,402 rooms and Holiday Inn with 61 projects/16,412 rooms. The leading brand for Marriott International is the full-service Marriott Hotel & Resort with 66 projects/20,531 rooms. All of these brands are at record highs.

  5. The Hotel Construction Pipeline in the Middle East Continues Rapid Expansion August 31, 2018
    In the recent Middle East hotel construction pipeline report by analysts at Lodging Econometrics (LE), the region continues to show rapid pipeline expansion in the second quarter of 2018 with the highest counts since 2007 when LE first began recording. The total pipeline stands at 603 projects/175,288 rooms, an all-time high. These numbers show a lofty 119% increase in projects and 125% increase in rooms since the region’s low in the fourth quarter of 2013 when the total pipeline bottomed at 275 projects/77,772 rooms.

    Projects presently under construction are at 355 projects/113,635 rooms and are at an all-time high. Projects scheduled to start construction in the next 12 months are at 127 projects/33,158 rooms, and projects in early planning are at 121 projects/28,495 rooms, both at their highest levels since 2007.

    In the first half of 2018, the Middle East had 43 new hotels open while another 51 hotels are forecasted to open in the second half, bringing the total number of expected new hotel openings to 94 by year end. Analysts at LE forecast explosive growth for new hotel openings in the coming years with 119 expected to open in 2019 and a whopping 156 in 2020.

    Countries with the largest number of projects in the construction pipeline are the United Arab Emirates with 217 projects/61,375 rooms and Saudi Arabia, with 208 projects/74,962 rooms. Following distantly are Qatar with 58 projects/13,733 rooms and Egypt with 42 projects/9,923 rooms. The most swiftly growing emirate construction pipeline is in Dubai with 163 projects/47,783 rooms. The other notable emirate is Abu Dhabi with 21 projects/5,647 rooms.

    Regions and cities having the largest hotel construction pipelines are located within Saudi Arabia, where the Provincial Region has 59 projects/11,467 rooms, and Riyadh has 57 projects/10,735 rooms. Jeddah is recording their highest counts since 2007 with 56 projects/11,027 rooms while Makkah has 36 projects/41,733 rooms, also a record high.

    Companies with the largest construction pipelines in the Middle East are Marriott International with 96 projects/22,066 rooms, Hilton Worldwide with 91 projects/25,341 rooms, and AccorHotels with 81 projects/23,512 rooms. Marriott International is showing an all-time high project count while Hilton Worldwide is on their third quarter in a row of overall record highs for both projects and guest room counts.

    The leading pipeline brands for these companies are Marriott’s Courtyard with 21 projects/4,476 rooms, and Residence Inn with 16 projects/1,877 rooms; Hilton’s full-service Hilton Hotel & Resort with 26 projects/9,736 rooms, and DoubleTree by Hilton with 26 projects/6,113 rooms; and AccorHotels’ Novotel with 14 projects/5,165 rooms, and Adagio City Aparthotel with 14 projects/2,711 rooms. All of these leading pipeline brands, with the exception of Hilton’s full-service Hotel and Resort, are at their record highs.

  6. The Hotel Construction Pipeline in Europe Continues to Accelerate Forward and Shows Impressive Double-Digit Growth Year-Over-Year August 28, 2018
    Lodging Econometrics’ (LE) analysts report another year of accelerating growth for Europe’s hotel construction pipeline which is at the highest level since LE began recording in 2007. The total pipeline stands at 1,388 projects/219,251 rooms for the second quarter of 2018. It is an impressive 18% increase year-over-year (YOY). There are 693 projects/112,580 rooms currently under construction, 403 projects/62,538 rooms planning to start construction in the next 12 months, and 292 projects/44,133 rooms in the early planning stage. Projects currently under construction and those in early planning are also at their highest since 2007.

    Europe had significant growth in new hotel openings in the first half of 2018 with 198 hotels/26,164 rooms, up 38% over the first half of 2017 when 144 hotels/21,288 rooms opened. The LE forecast for new hotel openings shows continued growth for the next several years with a total of 367 new hotels/49,295 rooms opening by the end of 2018, followed by 383 hotels/53,030 rooms expected in 2019, and 392 hotels/60,740 rooms in 2020. Metrics for new hotel openings are also at their highest since 2007.

    The top countries in Europe’s construction pipeline are Germany with 247 projects/47,155 rooms, the United Kingdom with 247 projects/36,487 rooms, France with 130 projects/15,198 rooms, Portugal with 83 projects/8,531 rooms, and Poland with 80 projects/12,221 rooms. All of these countries reached their highest levels since 2007 in either the first or second quarter of 2018.

    The top hotel companies in Europe’s construction pipeline are AccorHotels with 220 projects/28,281 rooms, Marriott International with 178 projects/29,740 rooms, Hilton Worldwide with 166 projects/26,114 rooms, and InterContinental Hotels Group (IHG) with 138 projects/23,044 rooms. These four companies comprise 51% of the total hotel construction pipeline in Europe.

    The largest brands for each of these top companies are AccorHotel’s Ibis brands with 125 projects/15,391 rooms, Mercure Hotel with 24 projects/2,371 rooms, and Adagio City Aparthotel with 21 projects/2,844 rooms; Marriott International’s Moxy with 54 projects/9,615 rooms, Courtyard by Marriott with 32 projects/5,797 rooms, and the Autograph Collection with 14 projects/1,926 rooms. In addition, Hilton Worldwide has Hampton Inn with 69 projects/ 10,438 rooms, Hilton Garden Inn with 43 projects/6,644 rooms, DoubleTree by Hilton with 21 projects/3,042 rooms; and IHG’s Holiday Inn Express with 65 projects/9,873 rooms, Holiday Inn with 33 projects/7,116 rooms, and Hotel Indigo with 15 projects/1,897 rooms.

  7. The Latin America Hotel Construction Pipeline Continues Decline from its 2016 Peak August 20, 2018
    According to the recent Latin America construction pipeline trend report from Lodging Econometrics (LE), the total construction pipeline has 750 projects/129,351 rooms, the lowest number of projects in the pipeline since the fourth quarter of 2013. Trendline analysis suggests that peak construction activity in Latin America occurred in 2015-2016 and the construction pipeline has now begun a cyclical decline.

    The cyclical decline is most notable in Brazil, which has historically accounted for more than half of the region’s pipeline. Brazil’s pipeline peaked in the first quarter of 2015 at 453 projects/79,431 rooms and now stands at just 212 projects/34,559 rooms. Lessor declines but still of note are also evident in Panama, Argentina, and Jamaica.

    In Latin America, there are 363 projects/63,607 rooms presently under construction, projects scheduled to start construction in the next 12 months are at 207 projects/32,305 rooms, and projects in early planning are at 180 projects/33,439 rooms.

    Only 94 projects/16,024 rooms started construction in the first half of 2018. New projects announced into the pipeline during the first half of 2018 are down -38% with only 114 projects/17,595 rooms compared to the 177 projects/28,533 rooms announced in the first half of 2017.

    In the first half of 2018, Latin America had 61 new hotels open, the lowest level since the first half of 2014 which had 59 new hotels open. The LE forecast for new hotel openings calls for another 106 new hotels to open in the second half of the year bringing the total to 167 by the year-end. This is a downturn from the 180 new hotel openings seen in 2017 and 187 in 2016. The forecast for 2019 will likely see a slight increase to 182 new hotel openings before dipping back down to 168 in 2020.
    Countries with the most projects in the total construction pipeline are led by Brazil with 212 projects/34,559 rooms. Next is Mexico with 180 projects/33,071 rooms, Columbia, with 63 projects/9,623 rooms, Peru which is at an all-time high of 47 projects/6,843 rooms, and Argentina which, conversely, is at an all-time low with 29 projects/2,776 rooms. This is followed by the Dominican Republic with 26 projects/9,452 rooms, Cuba with 26 projects/8,643 rooms, and Chile with 21 projects/3,607 rooms.

    Top hotel companies in Latin America’s construction pipeline are AccorHotels with 112 projects/16,223 rooms, Marriott International with 95 projects/15,125 rooms, Hilton Worldwide with 76 projects/11,851, which is an all-time high for the Hilton company in Latin America, and InterContinental Hotels Group with 47 projects/5,933 rooms. These four companies make up 44% of projects in the total construction pipeline and are forecast to see the highest number of new hotel openings in 2019 and 2020.

    The top brands are AccorHotel’s Ibis brands with 79 projects/10,501 rooms and Novotel with 12 projects/2,034 rooms, Hilton Worldwide’s Hilton Garden Inn with 20 projects/2,877 rooms and Hampton Inn by Hilton with 17 projects/2,087 rooms, and InterContinental’s Holiday Inn Express with 19 projects/2,32 0 rooms and Holiday Inn with 11 projects/1,537 rooms. These are followed by Marriott International’s full-service Marriott Hotel with 11 projects/2,191 rooms, Courtyard by Marriott with 11 projects/1,644 rooms, and AC Hotel by Marriott with 10 projects/1,701 rooms.

  8. Dallas Has the Second Largest Hotel Construction Pipeline in the United States August 14, 2018
    In the most recent Lodging Econometrics (LE) Hotel Construction Pipeline Trend report for the U.S., LE states that Dallas has a total of 156 projects/18,908 rooms in the construction pipeline, second only to New York with 169 projects/29,365 rooms. 47 projects/6,350 rooms are presently under construction, projects scheduled to start construction in the next 12 months are at 73 projects/8,606 rooms, and those in early planning are at 36 projects/ 3,952 rooms. If all of the projects in the pipeline eventually come to fruition, this will increase the city’s guest room supply by 21.3%.

    Dallas should continue its fast-paced growth. For the first half of the year, it led all markets for the most new hotel projects announced into the pipeline, with 27 projects/3,195 rooms.

    Of the nine market tracts in Dallas, the three with the largest hotel construction pipelines are: Denton/Lewisville/McKinney with 41 projects/4,860 rooms; the Southern and Eastern portions of Dallas with 28 projects/2,352 rooms; and East Plano/Richardson with 20 projects/2,044 rooms. These three important market tracts combined account for 57% of Dallas’s total construction pipeline.

    The market tracts with the most projects presently under construction are Denton/Lewisville/McKinney with 10 projects/1,219 rooms; and with 8 projects each: West Plano/Frisco with 1,226 rooms and South and East Dallas with 651 rooms.

    LE’s forecast for new hotel openings predicts the Dallas market will rank second in the nation for new hotel openings in 2018 with 33 projects/3,813 rooms. In 2019, Dallas will be third with a forecast for new hotel openings of 30 projects/3,224 rooms.

    Transaction activity, where sales data has been released into the public domain, has been relatively light in 2018. There have been only 19 hotels sold in the first half of the year: 8 hotels sold to private equity groups, 6 to real estate investment trusts, 3 to individual ownership and management groups and 2 to a private hotel companies. The largest hotel transaction was the sale of a portfolio of five Extended Stay hotels, which sold for an average selling price of $4,959,402 to the private equity group, Three Wall Capital, LLC of Brooklyn, NY.

  9. New York City has the Largest Hotel Construction Pipeline in the United States August 8, 2018
    In the most recent Lodging Econometrics (LE) Construction Pipeline Trend report on New York City, LE states that New York City has a total of 169 projects/29,365 rooms in the construction pipeline, the largest pipeline of any market in the U.S. Of this total, hotels presently under construction are at 101 projects/17,108 rooms, projects scheduled to start construction in the next 12 months are at 43 projects/6,384 rooms, and those in early planning are at 25 projects/ 5,873 rooms. If all of the projects in the pipeline eventually come to fruition, this will increase the City’s guest room supply by 25.2%.

    New York should continue its fast-paced growth. For the first half of the year, it has ranked third nationally for the number of new hotel projects announced into the pipeline, with 24 projects/3,796 rooms.

    The three market tracts with the largest hotel construction pipelines are: Midtown South, the area between 24th and 36th Streets, with 36 projects/8,251 rooms; the greater New York City Area, which includes Brooklyn, the Bronx, and Staten Island, with 33 projects/2,956 rooms; and La Guardia/Queens North, which includes the area by the airport down to the Grand Central Parkway, with 27 projects/5,325 rooms. These three important market tracts combined account for 57% of New York City’s total construction pipeline.

    The market tracts with the most projects presently under construction are Midtown South with 24 projects/5,696; the greater New York City Area with 16 projects/1,360 rooms; and JFK/Jamaica, which includes the area of Queens from the Grand Central Parkway south, the JFK Airport area and Jamaica, with 14 projects/1,930 rooms.

    LE’s forecast for new hotel openings predicts that New York City will lead the nation for new hotel openings in 2018 with 45 projects/7,762 rooms. In 2019, New York is again forecast to top the list of new hotel openings with 52 projects/7,356.

    Transaction activity, where sales data has been released into the public domain, has been relatively light in 2018. There have been only 8 hotels sold in the first half of the year: 3 hotels sold to private equity groups, 3 to private hotel companies, 1 to Hilton Grand Vacations, and 1 to an individual ownership and management group. The largest hotel sale was the W New York on Lexington Ave with 697 rooms, sold to Capstone Equities for a selling price of $189,925,375 which is a price per room of $272,490. Capstone Equities has since converted the hotel to a Tribute Hotel by Marriott International and has changed the name to Maxwell New York City.

  10. Canada Maintains Moderate Hotel Development Growth Year-Over-Year August 7, 2018
    In the second quarter, analysts at Lodging Econometrics (LE) report that the total construction pipeline in Canada stands at 240 projects/29,780 rooms, up 28 projects or 13% year-over-year (YOY). However, the pipeline will likely soon be topping out for this economic cycle having risen within 10% of record levels of 268 projects/33,838 rooms last seen in 2007.

    Projects presently under construction are at 82 projects/10,352 rooms, up 17% by projects YOY of which 13 projects/1,448 rooms began construction in the first half of 2018. Projects scheduled to start construction in the next 12 months are at 90 projects/10,363 rooms, a minimal -1% decline in projects. Early planning has the most substantial shift in projects YOY, showing a 33% increase with 68 total projects/9,065 rooms recorded. This increase in early planning is typical late cycle activity where developers are anxious to move from the drawing board into the permitting phase prior to any economic slowdown.

    In the first half of 2018, Canada had 28 new hotel openings which is almost as many as the whole of 2017, which saw 31 hotels open. LE’s forecast for new hotel openings predicts another 18 new hotel openings in the second half of 2018. 2019 is forecast to see 55 projects/6,870 rooms open and 2020 will have 62 projects/6,528 rooms open which, is likely to be the highest level of new hotel openings in this economic cycle.

    Top hotel companies in Canada’s construction pipeline are Marriott International leading with 48 projects/6,661 rooms, followed by Hilton Worldwide with 42 projects/5,077 rooms, and InterContinental Hotels Group (IHG) with 42 projects/4,233 rooms. These three companies make up 55% of the total pipeline. The largest brands in the pipeline for each of these companies are Marriott’s TownePlace Suites with 10 projects/991 rooms, Hilton’s Hampton Inn & Suites by Hilton with 12 projects/1,405 rooms, and IHG’s Holiday Inn Express, with 27 projects/2,764 rooms, which is also the largest brand total in the pipeline.

    Markets with the most projects in the total construction pipeline are Toronto with 40 projects/5,685 rooms, Calgary with 13 projects/2,120 rooms, and Edmonton with 13 projects/1,950 rooms.

    The 2018 forecast for new hotel openings has Ottawa leading with 5 projects/615 rooms opening. In 2019 and 2020, Toronto is forecast to top the list with 7 projects/806 rooms and 6 projects/666 rooms opening respectfully.

  11. Top Franchise Companies and Brands in the U.S. Construction Pipeline August 3, 2018
    In the second quarter of 2018, analysts at Lodging Econometrics (LE) report that the top franchise companies with the largest construction pipelines are: Marriott International with 1,351 projects/177,743 rooms, Hilton Worldwide with 1,327 projects/147,728 rooms, and InterContinental Hotels Group (IHG) with 932 projects/95,018 rooms. Development projects in these three franchise companies comprise 66% of total construction pipeline rooms.

    The largest brands for each of these companies are Marriott’s Fairfield Inn with 284 projects/27,584 rooms, Hilton’s Home2 Suites by Hilton with 384 projects/40,240 rooms and IHG’s Holiday Inn Express with 430 projects/40,162 rooms. These three brands alone make up 17% of the total construction pipeline rooms.

    Other high volume brands in the pipeline for each of these franchises are: Marriott’s TownePlace Suites with 201 projects/20,737 rooms and Residence Inn with 190 projects/23,443 rooms; Hilton’s Hampton Inn and Suites with 302 projects/30,700 rooms and Tru by Hilton with 298 projects/28,776 rooms; and IHG’s Staybridge Suites with 143 projects/15,206 rooms and Avid Hotel with 121 projects/11,187 rooms.

  12. Timothy Ford Appointed President of Lodging Econometrics and New England Hotel Realty August 2, 2018
    Portsmouth, NH – Patrick Ford, Chairman of Lodging Econometrics (LE), the global leader for hotel real estate intelligence, and New England Hotel Realty (NEHR), the leading full-service hotel real estate advisory brokerage firm in the Northeast, announced today that Timothy Ford has been appointed President of both companies.

    “Timothy is a proven leader who most recently served as Executive Vice President, where he was responsible for the company’s technology initiatives, the growth of our client services, overseeing the sales and marketing departments and most notably for taking LE’s trusted U.S. Business Development Programs and expanding them into every region and country worldwide. Incorporating the latest cutting-edge technology, he has also re-designed LE’s online business development program delivery systems, including our global database of hotel development records and portfolio of lodging real estate trend and management guidance reports for client sales teams,” said Ford.

    In his new role as President, Timothy will be responsible for creating new business partnerships; continuing to incorporate the latest online technology into our research and deliverables; creating additional business development programs for our roster of franchise clients looking to accelerate their brand growth, hotel ownership and management groups seeking to expand their real estate portfolios, and lodging vendors wanting to increase their sales to the industry.

    Ford continued, “it’s a terrific time for the lodging industry and an opportunistic time for our company. Timothy offers the right mix of outstanding vision and proven execution to continue moving our companies forward.”

    “I am humbled and honored to be appointed as President, to provide the leadership for our strategic growth, and to continue to serve our clients with unmatched hotel real estate intelligence,” said Timothy Ford. “I look forward to working closely with the board and the LE and NEHR teams to further our vision for the years ahead.”

  13. Leading Markets in the U.S. Construction Pipeline August 2, 2018
    According to the second quarter construction pipeline trend report by Lodging Econometrics (LE), the top five markets with the largest hotel construction pipelines are: New York City with 169 projects/29,365 rooms; Dallas with 156 projects/18, 908 rooms; Houston with 150 projects/16,321 rooms; Nashville with 123 projects/16,392 rooms; and Los Angeles with 121 projects/18,037 rooms.

    The five top markets with the most projects currently under construction are New York City with 101 projects/17,108 rooms, Dallas with 47 projects/6,350 rooms, Nashville with 43 projects/7,005 rooms, Houston with 40 projects/4,738 rooms, and Atlanta with 28 projects/3,387 rooms.

    In the second quarter, Nashville had the largest number of new projects announced into the pipeline with 13 projects/1,351 rooms, followed by Los Angeles with 12 projects/1,845 rooms, New York City with 11 projects/1,075 rooms, Houston with 11 projects/909 rooms, and Dallas with 10 projects/1,229 rooms. If all of the projects in their pipelines come to fruition, these leading markets will increase their current room supply by: Nashville 38.2%, Austin 29.3%, Fort Worth 28.5%, San Jose 25.3%, and New York City 25.2%.

    Hotels forecast to open in 2018 are led by New York City with 45 projects/7,762 rooms, followed by Dallas with 33 projects/ 3,813 rooms, and then Houston with 27 projects/3,114 rooms. In 2019, New York is forecast to again top the list of new hotel openings with 52 projects/7,356 rooms while, at this time, Dallas is anticipated to take the lead in 2020 with 40 projects/4,943 rooms expected to open.

  14. U.S. Construction Pipeline Continues Moderate Growth Year-Over-Year August 1, 2018
    At the end of the second quarter, analysts at Lodging Econometrics (LE) report that the total U.S. construction pipeline stands at 5,312 projects/634,501 rooms, up 7% from 2017’s 4,973 projects/598,371 rooms. The pipeline has been growing moderately and incrementally each quarter and should continue its upward growth trend as long as the economy remains strong. Pipeline totals are still significantly below the all-time high of 5,883 projects/785,547 rooms reached in 2008.

    Projects scheduled to start construction in the next 12 months have seen minimal change year-over-year (YOY) with 2,291 projects/266,878 rooms. Projects currently under construction are at 1,594 projects/208,509 rooms, the highest recorded since 2007. This also marks the fourth consecutive quarter that the number of rooms under construction has been over 200,000 units.

    Early planning with 1,427 projects/159,114 rooms, saw a 25% increase in projects and 18% increase in rooms YOY. This increase in early planning is typical late cycle activity where developers are anxious to move from the drawing board into the permitting phase prior to any economic slowdown. Many are larger projects that wait for peak operating performance in their markets before seeking financing.

    Both the increase in projects under construction and those in the early planning stage are reflective of the urgency developers currently have before the economy softens and/or interest rates further accelerate.

  15. Lodging Econometrics’ Patrick H. Ford to receive Lifetime Achievement Award at 24th Annual The Lodging Conference in Phoenix this September July 11, 2018
    Harry Javer, Producer and Founder of The Lodging Conference, one of the industry’s leading events for Hotel Owners, CEO’s and Deal Makers, announced today that Patrick H. Ford, Chairman, CEO, and Founder of Lodging Econometrics (LE) and New England Hotel Realty (NEHR), has been selected as the recipient of the 2018 Lifetime Achievement Award. The award will be presented at The Lodging Conference on September 25, 2018.

    The prestigious Lifetime Achievement Award recognizes an individual who has provided outstanding, life-long contributions to the hospitality industry. Past recipients include Minaz Abji, Executive Vice President, Host Hotels & Resorts; Jack DeBoer, Chairman, Value Place; John Q. Hammons, Founder, Chairman and Chief Executive Officer, John Q. Hammons Hotels & Resorts; Michael Leven, President and COO, Las Vegas Sands Corp.; Joe McInerney, President & CEO, McInerney Hospitality International; Leland C. Pillsbury, Co-Chairman & CEO, Thayer Lodging Group; Hasmukh (H.P.) Rama, CEO & Chairman of the Board, JHM Hotels; Randy Smith, Chairman and Founder, STR; Jonathan M. Tisch, Co-Chairman of the Board and a member of the Office of the President of Loews Corporation, and Chairman and CEO of its subsidiary, Loews Hotels & Co.

    In a career spanning more than 50 years, Pat Ford began his career with the Dunfey Hotel Company, the predecessor to the Omni Hotel Company, where he spent 20 years in a variety of operational and executive roles. In 1995, at the start of the lodging franchise boom, and at the urging of a number of hotel companies and Wall Street Investment Firms, he founded Lodging Econometrics (LE) to compile lodging development and transaction data for the U.S. Within two years, LE replicated their development research programs in every country of the world. Shortly thereafter, LE positioned away from solely being a data provider towards being a lodging sales and marketing specialty firm as well, providing a variety of customized new hotel construction and supply side databases, and trend line and forecast reports that assist development teams in growing their business within the lodging industry.

    In 2017, Lodging Econometrics was honored by the Peter Paul School of Business at the University of New Hampshire as the most outstanding family business in New Hampshire. Today, Lodging Econometrics is ably led by Ford’s sons, Timothy, JP and Bruce and has also provided employment opportunities for a number of third generation family members.

    “I’m delighted to be selected for the prestigious 2018 Lifetime Achievement Award and to be counted amongst the prominent roster of former award winners. It has been a pleasure to spend my over 50 year career as part of the lodging industry and in particular to have played a part in the unprecedented global expansion of the industry over the last 25 years. It’s been an exciting time,” said Pat Ford.

    “We are thrilled to have Pat Ford as this year’s recipient of The Lifetime Achievement Award,” said Harry Javer, Producer and Founder of The Lodging Conference. “This distinction is all about visionary leadership and there is no one who has provided more insight into the hospitality industry than Pat. Lodging Econometrics is the go-to industry source for franchise companies, ownership and management groups and lodging vendors who rely on timely intelligence on new construction, renovation and conversion opportunities and for transaction trends in every region, country and market worldwide. Pat is the embodiment of outstanding achievement.”

  16. Top World Regions and Markets in the Global Hotel Construction Pipeline June 20, 2018
    Lodging Econometrics (LE) has released its global construction pipeline trend report, which compiles the construction pipeline for every country and market in the world, where currently the regions by project count are: The Americas with 6,268 projects/800,298 rooms, Asia Pacific with 4,205 projects/907,867 rooms and EMEA with 2,241 projects/430,837 rooms.

    The top countries by project count are the United States with 5,255 projects/636,274 rooms and China with 2,481 projects/546,424 rooms. The U.S. accounts for 41% of the projects in the global pipeline while China accounts for 20%, resulting in 61% of the global pipeline being concentrated in just these two countries. A far distance off from these two countries are Indonesia with 394 projects/66,154 rooms, Germany with 246 projects/47,927 rooms, and United Kingdom with 246 projects/36,585 rooms.

    The cities with the largest pipeline project counts are: New York with 169 projects/29,641 rooms, Dubai with 161 projects/ 46,420 rooms, Dallas with 159 projects/19,149 rooms, Houston with 148 projects/16,158 rooms, and Shanghai 129 projects/25,750 rooms.

  17. 7% Year-Over-Year Growth in the Global Construction Pipeline June 19, 2018
    The Lodging Econometrics (LE) global construction pipeline trend report, which compiles the construction pipeline for every country and market in the world, states that the total pipeline stands at 12,714 projects/2,139,002 rooms, up 7% by projects year-over-year (YOY).

    There are 5,952 projects/1,115,288 rooms under construction, up 8% by projects YOY. Projects scheduled to start construction in the next 12 months, at 3,988 projects/584,433 rooms, are up 6% while projects in early planning at 2,774 projects/439,281 rooms are up 5% YOY.

    The leading 5 franchise companies in the global construction pipeline by project-count are: Marriott International with 2,381 projects/398,238 rooms, Hilton Worldwide with 2,180 projects/322,857 rooms, InterContinental Hotels Group (IHG) with 1,600 projects/234,807 rooms, AccorHotels with 781 projects/140,396 rooms, and Choice Hotels with 629 projects/153,992 rooms. The leading brands for each of these companies are: Marriott’s Fairfield Inn with 357 projects/38,826 rooms, Hilton’s Hampton Inn & Suites with 599 projects/75,642 rooms, IHG’s Holiday Inn Express with 709 projects/86,836 rooms, Accor’s Ibis with 156 projects/22,361 rooms, and Choice’s Comfort Suites with 126 projects/10,983 rooms.

  18. Asia Pacific’s Top Global and Regional Companies and Brands for Hotel Construction Excluding China June 14, 2018
    According to the most recent Asia Pacific Construction Pipeline Trend Report from Lodging Econometrics, the top global hotel companies in the Asia Pacific Construction Pipeline, excluding China, are: Marriott International with 204 Projects/48,003 Rooms, AccorHotels with 215 Projects/45,086 Rooms, InterContinental Hotels Group (IHG) with 122 Projects/28,186 Rooms, Hilton Worldwide with 82 Projects/17,750, and Best Western with 34 Projects/6,146 Rooms.

    The largest brand in the Pipeline for each of these companies is: Marriott’s Sheraton Hotel with 29 Projects/7,069 Rooms, Accor’s Ibis Styles with 45 Projects/8,928 Rooms, IHG’s Holiday Inn with 50 Projects/12,300 Rooms, Hilton’s DoubleTree with 29 Projects/6,003 Rooms and the Best Western brand with 15 Projects/1,888 Rooms.

  19. Asia Pacific’s Top Countries and Cities for Hotel Construction Excluding China June 13, 2018
    According to analysts at Lodging Econometrics (LE), the top countries in the Asia Pacific Construction Pipeline, excluding China, by project count are: Indonesia with 394 Projects/66,154 Rooms, Japan with 228 Projects/46,356 Rooms, India with 206 Projects/33,501 Rooms, Malaysia with 137 Projects/36,244 Rooms and Thailand with 134 Projects/31,964 Rooms.

    Cities with the largest pipelines by project count are: Jakarta, Indonesia with 101 Projects/19,010 Rooms; Seoul, South Korea with 80 Projects/15,738 Rooms; Tokyo, Japan with 73 Projects/16,885 Rooms; Kuala Lumpur, Malaysia with 58 Projects/14,834 Rooms and Bangkok, Thailand with 52 Projects/11,805 Rooms.

  20. The Asia Pacific Hotel Construction Pipeline Excluding China Continues Double Digit Increases Year-Over-Year June 12, 2018
    The most recent Asia Pacific Construction Pipeline Trend Report, excluding China, states that the Total Pipeline has 1,673 Projects/349,081 Rooms, up 12% by projects and 17% by rooms Year-Over-Year (YOY).

    There are 959 Projects/208,153 Rooms Under Construction, up 19% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 368 Projects/72,819 Rooms, up 26%, while projects in Early Planning at 346 Projects/68,109 Rooms, are down 14% by projects YOY.

Ask the Experts

LE’s Lodging Real Estate and Market Intelligence Experts are happy to offer insights and support to journalists and media specialists reporting on the lodging real estate, lender and vendor industries. For media inquiries or specific information requests, please contact:

Rebecca Evans
Director of Marketing Communications

+1 603.427.9547
revans@lodgingeconometrics.com