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.
Projects in Canada’s Pipeline Up Slightly November 17, 2017According to Lodging Econometrics (LE), the total Construction Pipeline in Canada currently has 228 Projects/30,875 Rooms, up 11% by projects Year-Over-Year (YOY).
There are 80 Projects/11,076 Rooms Under Construction, up 13% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 87 Projects/10,215 Rooms, up 26%, while those in Early Planning are at 61 Projects/9,584 Rooms, down 8%.
The top hotel companies in Canada’s Construction Pipeline by projects are: Marriott with 47 Projects/7,121 Rooms, InterContinental Hotels Group (IHG) with 35 Projects/3,644 Rooms, and Hilton with 32 Projects/3,705 Rooms. The largest brands in the Pipeline for each of these companies are: Courtyard by Marriott with 10 Projects/1,468 Rooms, IHG’s Holiday Inn Express with 23 Projects/2,402 Rooms and Hilton’s Hampton Inn & Suites with 10 Projects/1,058 Rooms.
Cities in Canada with the largest pipelines are: Toronto with 31 Projects/4,492 Rooms, Calgary with 14 Projects/2,206 Rooms and Edmonton with 12 Projects/1,825 Rooms.
New Openings Growing Steadily as the Cycle Matures November 15, 2017By the end of the third quarter, 701 Hotels/82,484 Rooms had already opened in the U.S. with another 278 Projects/29,532 Rooms forecast to open by year-end according to analysts at Lodging Econometrics (LE). The Total 2017 Forecast is 979 Projects/112,016 Rooms, representing a 12% increase over the actual number of Hotel Openings in 2016, which stood at 850 Hotels/99,881 Rooms.
With slight increases in occupancy being recorded, new supply in 2017 should be easily absorbed. Demand growth, however modest, still continues to exceed supply growth.
Almost half of the hotels expected to open this year are Upper Midscale, at 450 Projects/43,755 Rooms, or 46% of the Total. This is followed by Upscale, at 265 Projects/35,362 Rooms. These two chain scales represent 73% of the 979 projects anticipated to open through the end of 2017.
LE forecasts that 1,146 Projects/130,633 Rooms will open in 2018 and another 1,153 Projects/134,990 Rooms will open in 2019. Though accelerating, the new openings peak in this cycle is likely to be a distance from the 1,341 Projects/154,257 Rooms that opened in 2008.
Extended-stay Hotels Account for 28% of All Projects Under Construction November 10, 2017According to recent reports from Lodging Econometrics (LE), there are 1,295 extended-stay Projects/136,945 Rooms in the U.S. Hotel Construction Pipeline. 438 Projects/48,903 Rooms are Under Construction, accounting for 28% of all projects Under Construction in the Total Pipeline. 609 Projects/64,359 Rooms are Scheduled to Start Construction in the Next 12 Months while an additional 248 Projects/23,683 Rooms are in Early Planning.
Home2 Suites by Hilton currently has the largest extended-stay Pipeline with 348 Projects/36,439 Rooms. The second largest brand is Marriott’s Residence Inn with 189 Projects/23,605 Rooms, followed by its Towneplace Suites with 183 Projects/18,590 Rooms.
In 2016, 224 extended-stay Hotels/24,196 Rooms opened. At the end of 2017, 241 Projects/26,640 Rooms are expected to open. In 2018, 322 Projects/34,696 Rooms and in 2019, 340 Projects/37,043 Rooms are forecast to open.
Upper Midscale & Upscale are the Largest Chain Scales in the Construction Pipeline November 9, 2017Analysts at Lodging Econometrics (LE) report that the Upper Midscale category stands at 2,066 Projects/205,330 Rooms, and has the largest project count of all chain scales in the Total U.S. Construction Pipeline. The second largest is the Upscale category which has 1,274 Projects/164,628 Rooms. Together, the Upper Midscale and Upscale Pipelines comprise 67% of all projects in the Total Pipeline.
The brands with the largest number of projects in Upper Midscale are; IHG’s Holiday Inn Express with 442 Projects/41,053 Rooms; Hilton’s Home2 Suites 348 Projects/36,439 Rooms and Hampton Inn & Suites with 324 Projects/33,627 Rooms, and Marriott’s Fairfield Inn with 284 Projects/27,411 Rooms.
In Upscale, the top brands are; Marriott’s Residence Inn with 189 Projects/23,605 Rooms, and SpringHill Suites with 157 Projects/17,795 Rooms followed by Hilton Garden Inn with 136 Projects/18,237 Rooms and Courtyard by Marriott with 133 Projects/17,308 Rooms.
Currently, in the Census of Open & Operating hotels there are 9,894 Hotels/972,115 Rooms in Upper Midscale and 4,850 Hotels/732,131 Rooms in Upscale. As would be expected, these two chain scales are forecasted to have the highest guest room growth rates through 2018. The Upper Midscale chain scale is forecasted to grow its guest room Census by 4.7% and Upscale by 5.0% in 2017, and by 5.2% and 5.4% in 2018, respectively.
Top Franchise Companies in the U.S. Construction Pipeline November 8, 2017According to the recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines are; Marriott with 1,298 Projects/166,419 Rooms, Hilton with 1,270 Projects/144,191 Rooms and IHG with 817 Projects/83,728 Rooms. These 3 franchise companies comprise 68% of all projects in the Total Pipeline.
The largest brands for each of these companies are; Marriott’s Fairfield Inn with 284 Projects/27,411 Rooms and Residence Inn with 189 Projects/23,605 Rooms; Hilton’s Home2 Suites with 348 Projects/36,439 Rooms and Hampton Inn & Suites with 324 Projects/33,627 Rooms; and IHG’s Holiday Inn Express with 442 Projects/41,053 Rooms and Staybridge Suites with 129 Projects/13,635 Rooms.
The companies with the most New Project Announcements into the Pipeline in the first three quarters are; Hilton with 324 Projects/35,637 Rooms, Marriott with 248 Projects/32,166 Rooms and Choice with 196 Projects/13,735 Rooms. These three companies represent 74% of all new Projects Announced into the Pipeline.
Marriott Has the Largest Construction Pipeline of Any Franchise Company in the U.S. November 7, 2017Marriott International, due in part to the acquisition of the Starwood brands, currently has the largest construction pipeline of any franchise company with 1,298 Projects/166,419 Rooms. Their largest brands in the Total Pipeline are: Fairfield Inn with 284 Projects/27,411 Rooms, Residence Inn with 189 Projects/23,605 Rooms and TownePlace Suites with 183 Projects/18,590 Rooms.
Marriott has the most rooms currently Under Construction with 516 Projects/69,721 Rooms, which represents almost 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Construction in the Next 12 Months with 616 Projects/75,302 Rooms. Marriott also has 166 Projects/21,396 Rooms in Early Planning,
Marriott is forecasted to opened 257 new hotels with 32,886 rooms in 2017, accounting for 26% of all new hotels anticipated to open this year. The Marriott brands with the largest number of new hotels expected to open by year-end are Fairfield Inn with 70 Hotels/6,476 Rooms and Residence Inn with 37 Hotels/4,754 Rooms.
U.S. Markets with Largest Construction Pipelines November 6, 2017According to recent reports, analysts at Lodging Econometrics (LE) state that the five U.S. markets with the largest hotel construction pipelines by project count are: New York with 181 Projects/30,225 Rooms; Houston with 148 Projects/16,398 Rooms; Dallas with 143 Projects/17,580 Rooms; Nashville, which hit a cyclical peak this quarter, has 124 Projects/16,699 Rooms; and Los Angeles has 112 Projects/16,780 Rooms.
New York has the most New Hotel Openings forecasted for 2017 with 39 Hotels/6,128 Rooms, then Dallas, which is expected to open 37 Hotels/4,510 Rooms followed by Houston with 27 Hotels/2,828 Rooms. New York is also forecasted to open the most hotels in 2018 with 48 Projects/7,905 Rooms and in 2019, with 35 Projects/5,046 Rooms.
The markets with the most New Project Announcements into the Pipeline in the last 12 months are: New York with 59 Projects/9,563 Rooms, Dallas with 54 Projects/7,142 Rooms, and Orlando with 40 Projects/11,394 Rooms.
U.S. Construction Pipeline Shows Moderate Increases November 2, 2017According to a recent report by Lodging Econometrics (LE), the U.S. Construction Pipeline stands at 5,011 Projects/608,837 Rooms, up 4% by projects and rooms Year-Over-Year (YOY).
There are 1,592 Projects/208,523 Rooms Under Construction, up 8% and 7% YOY, respectively, the highest counts recorded this cycle. Projects Scheduled to Start Construction in the Next 12 Months, at 2,198 Projects/251,259 Rooms are down 1% YOY. Projects in Early Planning are at 1,221 Projects/149,055 Rooms. While these projects are up 10% YOY, the properties are smaller resulting in lower room-counts.
The Pipeline continues to grow at a moderate, upward pace and has established a new peak for this cycle. The previous cycle peak reached 5,882 Projects/785,547 Rooms in Q208. Current project counts are 15% below that level while rooms are 22.5% behind. Any acceleration in the Pipeline from its moderate growth rate is likely dependent on the tax plan and other economic measures being discussed in Congress.
Lodging Econometrics Launches New Business Development Programs October 25, 2017Lodging Econometrics (LE) has completely transformed its trusted Business Development Programs.
LE’s customized programs now offer a powerful Client Relationship Management platform designed for use by Hotel Franchise Companies, Lodging Industry Vendors, Hotel Ownership and Management Groups and Wall Street Analysts.
LE’s platform consists of a sleek newly re-designed, easy-to-use Database of Global Construction Pipeline projects, Announced Renovations, Brand Conversions, Sales Transactions and Open & Operating hotel records complete with decision maker contacts. The new database can be accessed through the all-new LE Mobile App available for iOS and Android devices and is scheduled to launch in November 2017.
The platform also consists of a suite of customized Management Guidance Reports for company executives summarizing the opportunities available for their companies so they can plan and lead with confidence. LE will also provide a Suite of Lodging Real Estate Trend Reports that supply industry-wide insights.
Top World Regions and Markets in the Global Hotel Construction Pipeline September 25, 2017Lodging Econometrics (LE) recently released the Global Construction Pipeline Trend Report, which compiles the construction pipeline for every country and market in the world. Currently, the top world regions by project count are The America’s with 5,719 Projects/745,510 Rooms, Asia Pacific with 3,862 Projects/836,725 Rooms and EMEA with 1,679 Projects/337,135 Rooms.
The top countries by project-count are the United States with 4,973 Projects/598,371 Rooms and China with 2,410 Projects/525,225 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 two countries.
The cities with the largest pipeline project count are: New York with 190 Projects/31,923 Rooms, Houston with 159 Projects/17,472 Rooms, Dallas with 147 Projects/18,429 Rooms, Dubai with 141 Projects/40,266 Rooms and Seoul 137 Projects/25,784 Rooms.
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