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.
The Global Construction Pipeline Ascends to New Record Highs September 27, 2019
Lodging Econometrics (LE) recently compiled construction pipeline counts for every country and market around the world. Their analysts state that the total global construction pipeline ascended to a record high of 14,051 projects/2,327,923 rooms, a 9% increase in projects and an 8% increase in rooms year-over-year (YOY). The report summarizes development in 176 countries worldwide
With the exception of Latin America, all regions of the globe either continued to set record high pipeline counts or have already settled into topping-out formations amidst concerns of a worldwide economic slowdown. The fallout after the on-going trade dispute between the United States and China continues to be the leading contributor.
But, low-interest rates and accommodative lending terms are the primary catalysts behind pipeline growth as the global pipeline should continue to grow for the foreseeable future, albeit at a much slower pace.
There is a record high 6,565 projects currently under construction worldwide having 1,192,398 rooms. Projects scheduled to start construction in the next 12 months; peaking at an all-time high for both projects and rooms, stands at 4,392 projects/636,080 rooms. Projects in the early planning stage continue to grow, with a 6% increase in projects and 10% increase in rooms, YOY, standing at 3,094 and 499,445 respectively.
The top countries by project count are the United States with 5,653 projects/693,207 rooms, just 230 projects shy of its all-time high of 5,883 projects set in the second quarter of 2008, and China with a current pipeline of 2,991 projects/592,884 rooms, which is a new high. The U.S. accounts for 40% of projects in the total global construction pipeline while China has 21%, resulting in 61% of all global projects being concentrated in just these two countries. Distantly following are Indonesia with 378 projects/63,196 rooms, Germany with 320 projects/57,689 rooms, and the United Kingdom with 280 projects/40,970 rooms.
Around the world, the cities with the largest pipelines by project counts are Dubai with 173 projects/50,832 rooms, New York City with 166 projects/28,231 rooms, and Dallas, TX with 162 projects/19,972 rooms. Los Angeles, CA follows with 158 projects/25,428 rooms, and Houston, TX with 146 projects/14,998 rooms.
The leading franchise company in the global construction pipeline is Marriott International with 2,534 projects/420,562 rooms. Hilton Worldwide follows closely with 2,334 projects/340,626 rooms. Next is InterContinental Hotels Group (IHG) with 1,769 projects/259,057 rooms, and AccorHotels with 980 projects/175,002 rooms. These four company brands account for 54% of all projects in the pipeline.
Leading brands in the pipeline for each of these companies are IHG’s Holiday Inn Express with 737 projects/93,415 rooms, Hampton by Hilton with 689 projects/90,634 rooms, Marriott’s Fairfield Inn with 397 projects/43,451 rooms, and AccorHotel’s Ibis Brands with 387 projects/54,683 rooms.
The first half of 2019 saw a total of 1,374 new hotels/196,237 rooms open around the world with an additional 1,675 hotels/236,334 rooms scheduled to open by year-end. With the global pipeline being at an all-time high, LE forecasts that new hotel openings will continue to climb with 3,168 hotels expected to open in 2020. In 2021, new openings are forecast to reach 3,171 hotels. Should all hotels forecast to open by 2021 come to fruition, it will be the largest surge of new hotel openings, collectively around the world, that LE has ever recorded.
The Middle East Hotel Construction Pipeline Project Count at an All-Time High in the Second Quarter of 2019 September 10, 2019
In a recent report by analysts at Lodging Econometrics (LE), the Middle East hotel construction pipeline stands at 640 projects/181,890 rooms, up 6% and 4%, respectively, year-over-year (YOY). This is an all-time high for projects in the region.
Projects presently under construction are at 345 projects/111,257 rooms. Projects scheduled to start construction in the next 12 months are at 160 projects/39,373 rooms, and projects in the early planning stage are at 135 projects/31,260 rooms.
The Middle East opened 42 new hotels/10,793 rooms in the first half of 2019 with another 59 new hotels/12,418 rooms scheduled to open by year-end. In 2020, new hotel openings are forecast to climb to 124 new hotels/37,233 rooms and ascending further in 2021 to 139 new hotels with 38,270 rooms expected to open.
Countries with the greatest number of projects in the construction pipeline are the United Arab Emirates (UAE) with 219 projects/61,781 rooms and Saudi Arabia with 217 projects/73,647 rooms. Egypt follows, at an all-time high, with 63 projects/15,353 rooms and then Qatar with 59 projects and a record-setting 15,002 rooms.
Dubai’s construction pipeline continues to tower over other Emirate pipelines in the UAE with 173 projects/50,832 rooms. Alone, Dubai accounts for 27% of the projects in the Middle East pipeline. Other notable yet distantly following Emirate countries are Abu Dhabi with 16 projects/3,938 rooms, Ras al Khaimah with 14 projects/4,294 rooms, and Ash-Shariqah with 14 projects/2,330 rooms.
Cities with the largest hotel construction pipelines are the Provincial region in Saudi Arabia with 63 projects/12,752 rooms; Riyadh with 60 projects/11,547 rooms; Jeddah with 56 projects/11,566 rooms and Doha, Qatar has 53 projects/12,881 rooms. Makkah follows with 38 projects/37,782 rooms. Four of the top five cities with the largest pipelines are located in Saudi Arabia and comprise 34% of the projects and 40% of the rooms in the total Middle East construction pipeline.
AccorHotels has the largest pipeline with 106 projects/28,580 rooms. Next is Marriott International with 98 projects/22,401 rooms and then Hilton Worldwide with 96 projects/26,638 rooms. Both have record-high project counts.
The leading pipeline brands for AccorHotels are the Ibis brands with 19 projects/6,147 rooms and Novotel with 16 projects/5,060 rooms. Marriott’s prominent brands are Courtyard with 21 projects/4,459 rooms and Residence Inn with 16 projects/1,877 rooms, both of which are recording their highest pipeline counts by projects and rooms. Hilton’s top brands are DoubleTree, at an all-time high for projects and rooms, with 29 projects/7,691 rooms and full-service Hilton Hotels & Resorts with 24 projects/7,393 rooms.
Europe’s Hotel Construction Pipeline Soars to Record Highs with Impressive Double-Digit Increases Year-Over-Year September 9, 2019
Analysts at Lodging Econometrics (LE) report that Europe’s hotel construction pipeline soared to record high counts in the second quarter of 2019 with 1,704 projects having 260,111 rooms, for a dramatic 23% increase in projects and 19% increase in rooms year-over-year (YOY).
There are currently 819 projects/128,284 rooms under construction. Projects planning to start construction in the next 12 months stand at 496 projects/76,633 rooms and those in the early planning stage at 389 projects/55,194 rooms are both at all-time highs. All chain scales showed year-over-year increases and are at or near record high project counts.
Low-interest rates and accommodative lending terms are the drivers behind the soaring pipeline. Rates are not likely to turn upward anytime soon as they are deemed important to bolster slowing economies and needed to off-set further trade and tariff uncertainties. Consequently, the pipeline is expected to continue to grow at a healthy pace for the foreseeable future.
New project announcements into the pipeline for the last four quarters stand at a record high 855 projects/119,472 rooms. They have been running high for the last nine quarters and should continue at a strong pace into 2020.
In the first half of 2019, Europe opened 213 new hotels with 28,167 rooms and is forecast to open another 192 new hotels with 24,689 rooms by year end. As a result of the thriving pipeline, the LE forecast for new hotel openings will continue to climb in the years ahead with 432 new hotels/60,694 rooms scheduled to open in 2020 and soaring to 484 new hotels with a whopping 74,220 rooms expected to open in 2021. Should all the forecasted new hotels between 2019-2021 come to fruition, Europe’s census of open and operating hotel rooms, which currently stands at 2,885,630 rooms, will grow by 7%.
Germany continues to lead Europe’s hotel construction pipeline with an all-time high 320 projects/57,689 rooms. The United Kingdom follows with 280 projects/40,970 rooms, then France and Portugal with 184 projects/22,140 rooms and 119 projects/11,733 rooms, respectively. Next is Poland with 85 projects/13,317 rooms.
The cities in Europe with the largest pipelines are London with 78 projects/13,632 rooms, Paris with 54 projects/7,946 rooms, and Dusseldorf with 52 projects/10,178 rooms. Lisbon follows with 39 projects having 3,293 rooms and then Hamburg with 32 projects/6,581 rooms, both at record highs.
Franchise companies with the largest construction pipelines are AccorHotels with a record high, 261 projects/35,183 rooms. Next is Marriott International with 211 projects/34,432 rooms. Hilton Worldwide follows with 174 projects/26,887 rooms, and InterContinental Hotels Group (IHG) with 148 projects/24,152 rooms. These four global franchise companies account for 47% of the projects in Europe’s pipeline.
The leading brands for these four companies are dominated by AccorHotel’s Ibis brands with 134 projects/16,785 rooms. Other top brands for AccorHotels are Mercure Hotel and Novotel, both at all-time highs, with 30 projects/3,202 rooms and 28 projects/4,881 rooms, respectively. Marriott International’s top brands are Moxy with 66 projects/11,855 rooms, Courtyard by Marriott with 33 projects/5,796 rooms, and Residence Inn, at an all-time high, with 17 projects/1,610 rooms. Hilton Worldwide has Hampton by Hilton with 69 projects/ 10,703 rooms, Hilton Garden Inn with 42 projects/6,376 rooms, and DoubleTree by Hilton with 26 projects having 3,455 rooms. IHG’s top brands include Holiday Inn Express with 69 projects/10,591 rooms, Holiday Inn with 36 projects/7,289 rooms, and Hotel Indigo with 14 projects/1,714 rooms.
Asia Pacific’s Hotel Construction Pipeline, Excluding China, Rises to a Record High in the Second Quarter of 2019 September 5, 2019
According to the recent report from analysts at Lodging Econometrics (LE), Asia Pacific’s total construction pipeline, excluding China, is at an all-time high and stands at 1,793 projects/393,732 rooms, up 3% and 7% respectively, year-over-year (YOY). The pipeline continues in a topping out formation despite slowing economies in the region and growth uncertainties in neighboring China.
Asia Pacific, excluding China, currently has 972 projects under construction with a record high room count of 225,896. There are 405 projects with 81,592 rooms scheduled to start construction in the next 12 months and 416 projects in the early planning stage with room counts at an all-time high of 86,244 rooms.
In the first half of 2019, the Asia Pacific region had 154 new hotels/25,227 rooms open. LE forecasts that another 240 new hotels with 45,141 rooms will open in the second half of 2019. Japan will dominate the 2019 regional forecast with 36% of total new hotel openings in preparation for the 2019 Rugby World Cup and the 2020 summer Olympics. New hotel openings will continue to climb in 2020 to an all-time high of 394 projects/80,041 rooms before dipping to 326 hotels/66,989 rooms scheduled to open in 2021.
Countries with the largest pipelines in Asia Pacific, excluding China, are led by Indonesia, with 378 projects/63,196 rooms, accounting for 21% of Asia Pacific’s total pipeline. Next is India with 238 projects/34,966 rooms, then Japan with 226 projects/47,294 rooms. These countries are followed by Malaysia with 138 projects with an all-time high record count of 37,760 rooms, followed by Vietnam with 136 projects/57,050 rooms.
Asia Pacific cities with the largest construction pipelines are led by Jakarta, Indonesia with 88 projects/16,112 rooms. Next is Seoul, South Korea with 72 projects/13,646 rooms and Tokyo, Japan with 58 projects/15,724 rooms. Kuala Lumpur, Malaysia follows with 55 projects/14,801 rooms and Kyoto-Osaka-Kobe, Japan with 46 projects/11,456 rooms.
The top four franchise companies, accounting for 42% of all rooms in the pipeline are: AccorHotels with 250 projects/53,050 rooms; Marriott International with 245 projects/54,934 rooms; InterContinental Hotels Group (IHG), at a record high 160 projects/35,746 rooms; and Hilton Worldwide, at an all-time high, with 88 projects/19,894 rooms.
Top brands in Asia Pacific’s construction pipeline, excluding China, include AccorHotels’ Ibis brands with 64 projects/12,341 rooms and Novotel with 46 projects/10,930 rooms. Marriott International’s two top brands are hitting record highs with Fairfield Inn at 37 projects/5,726 rooms and Courtyard at 36 projects/7,669 rooms. IHG’s Holiday Inn has a record 62 projects having 14,237 rooms and Holiday Inn Express has 36 projects/7,709 rooms, while Hilton Worldwide’s DoubleTree has 30 projects/6,090 rooms and the full-service Hilton Hotel & Resorts is also at a record high with 29 projects/7,691 rooms.
China’s Hotel Construction Pipeline Continues to Expand, Setting an All-Time High, Despite Economic Slowdown August 30, 2019
Analysts at Lodging Econometrics (LE) report that at the end of the first half of 2019, China’s total construction pipeline swelled to 2,991 projects/592,884 rooms, up 19% by projects and 7% by rooms year-over-year (YOY), both at all-time highs, amidst an economic slowdown. The China growth rate is expected to be 6.2% for 2019, the lowest reported since 1990.
The rocky economic climate is due to high debt levels, a trade war with the United States, and on-again, off-again discussions that add further to economic instability.
China has 2,174 projects/407,594 rooms presently under construction, up 20% and 5% YOY, respectively, while projects scheduled to start construction in the next 12 months stand at 411 projects/84,555 rooms. Projects in the early planning stage stand at 406 projects/100,735 rooms, up 19% by projects and 13% by rooms. All stages of the China pipeline have project counts at all-time highs, but not total rooms as the average size of pipeline projects have now dipped to 198 rooms per project, the smallest size that LE has ever recorded. The decline is primarily due to the long-term shift of projects from luxury and upper-upscale projects to the upper-upscale and upscale segments, a trend that has been visible since the mid-decade.
In the first half of 2019, China opened 413 new hotels/62,173 rooms with another 452 new hotels/69,110 rooms forecast to open by year-end. In 2020, 786 new hotels with 130,614 rooms are forecast to open. In 2021, new hotel openings are expected to reach 728 hotels with 135,913 rooms. Should all these hotels come online in 2021, then China will open the greatest number of new hotel rooms since the cyclical peak in 2014.
Guangzhou leads China’s pipeline with an all-time high project count of 140 projects with 27,945 rooms. Shanghai follows with 125 projects/23,361 rooms. Next is Chengdu at a record high 115 projects/24,328 rooms as does Wuhan with 91 projects/13,249 rooms. Suzhou follows with 88 projects/15,154 rooms.
Franchise companies topping China’s construction pipeline are Hilton Worldwide with a record number of projects at 428 projects/88,778 rooms. Next is InterContinental Hotels Group (IHG) with 360 projects/80,763 rooms and Marriott International with 294 projects/80,835 rooms, both setting record pipeline highs by projects and rooms. JinJiang Holdings follows with 225 projects/24,398 rooms and then AccorHotels at all-time highs with 219 projects/37,199 rooms.
Brands in the pipeline are dominated by Hampton by Hilton with a record 258 projects/40,550 rooms. Hilton’s second-largest brand is DoubleTree with 58 projects/16,190 rooms. IHG’s primary brands in China are Holiday Inn Express, at a record count, with 172 projects/30,820 rooms and Holiday Inn with 58 projects/15,305 rooms. Marriott International’s top brands are the full-service Marriott Hotel & Resort, hitting record highs, with 69 projects/21,023 rooms and Courtyard with 37 projects/9,570 rooms. Leading brands for JinJiang Holdings are 7 Days Inn with 115 projects/9,071 rooms, and Vienna Hotel with 30 projects/3,900 rooms. AccorHotels’ leading brand, Ibis, is also hitting all-time highs with 100 projects/10,580 rooms, while Mercure Hotel has a record number of projects with 57 projects/9,793 rooms.
The Latin America Hotel Construction Pipeline Continues to Decline from its 2016 Peak August 19, 2019
According to the recent Latin America construction pipeline trend report from Lodging Econometrics (LE), the total construction pipeline is in its third year of decline by rooms and has 710 projects/123,392 rooms. 710 projects is the lowest number of projects in the pipeline since the fourth quarter of 2013.
Projects presently under construction stand at 321 projects/56,228 rooms. Projects scheduled to start construction in the next 12 months stand at 208 projects/35,733 rooms, which is an all-time high for rooms, and those in the early planning stage are at 181 projects/31,431 rooms.
In the second quarter of 2019, Latin America had 56 new hotels with 10,938 rooms open. The LE forecast for the remainder of the year shows another 89 new hotels with 13,294 rooms scheduled to open. In 2020, LE’s forecast for new openings is expected to increase to 161 new hotels with 26,331 rooms and in 2021 rising to 164 new hotels with 24,470 rooms forecast to open.
Mexico leads Latin America’s construction pipeline with all-time high room counts at 203 projects/36,188 rooms. Next is Brazil, which stands at 156 projects/25,991 rooms. These two countries account for 51% of the projects in the total pipeline. Following is Colombia with 46 projects/7,267 rooms, then Peru with 43 projects/6,055 rooms and, at an all-time high by projects, the Dominican Republic with 35 projects/11,053 rooms.
Cities in Latin America with the largest pipelines include Lima, Peru with 31 projects/4,782 rooms; Mexico City, Mexico, at an all-time high, with 28 projects/4,849 rooms; Cancun, Mexico with 19 projects/8,947 rooms; Sao Paulo, Brazil with 17 projects/2,704 rooms; and Cartagena, Colombia with 16 projects/2,954 rooms. These five cities make up 20% of the rooms in the pipeline.
Top hotel franchise companies in Latin America’s construction pipeline are AccorHotels with 104 projects/13,880 rooms, followed closely by Marriott International with 103 projects/16,435 rooms. Next is Hilton Worldwide at a record high 82 projects with 11,574 rooms, and InterContinental Hotels Group (IHG) with 54 projects/6,432 rooms. These four companies are responsible for 48% of the projects in the total construction pipeline.
The top brands in the pipeline are AccorHotel’s Ibis brands with 67 projects/8,420 rooms, Hampton by Hilton with 21 projects/2,592 rooms, Hilton Garden Inn with 20 projects/2,847 rooms, and IHG’s Holiday Inn Express with 18 projects/2,147 rooms. Following these brands are Marriott’s Fairfield Inn with 15 projects/2,255 rooms, and Courtyard by Marriott with 11 projects/1,660 rooms.
Canada’s Hotel Construction Pipeline Continues to Grow Hitting an All-Time High August 9, 2019
Analysts at Lodging Econometrics (LE) report that at the close of the second quarter of 2019, the total construction pipeline in Canada hit an all-time high with 273 projects/35,787 rooms. Construction pipeline projects are up 14% and rooms are up a lofty 20% year-over-year (YOY).
Currently, there are 92 projects/11,118 rooms under construction. Projects scheduled to start construction in the next 12 months stand at 95 projects/11,097 rooms with projects in the early planning stage at 86 projects/13,572 rooms, both stages hitting record high counts.
In the first half of 2019, Canada opened 28 new hotels/3,213 rooms with an additional 23 new hotels/2,579 rooms scheduled to open before year-end. In 2020, the LE forecast for new hotel openings shows 64 new hotels with 6,758 rooms expected to open. In 2021, Canada is forecast to open 67 new hotels/7,428 rooms. Should all these hotels come to fruition, 2021 will set an all-time high count for new hotel openings.
The top provinces in Canada with the most projects in the pipeline are dominated by Ontario at a record-high 140 projects/17,778 rooms. Next is British Columbia, also at a record high, with 43 projects/5,877 rooms and then Alberta with 36 projects/5,667 rooms. Together the three provinces account for 82% of the rooms in Canada’s Pipeline. Distantly following are Quebec and Manitoba with 13 projects/1,882 rooms and 9 projects/1,142 rooms, respectively.
The top five cities are led by Toronto with 49 projects/7,000 rooms, at a record high and claiming 20% of all the rooms in Canada’s total construction pipeline. Following distantly are Vancouver with 13 projects/1,536 rooms, Ottawa with 12 projects/1,868 rooms, Calgary with 12 projects/1,395 rooms, and Niagara Falls with 10 projects/2,445 rooms. These five cities account for 40% of the rooms in the total pipeline.
The top franchise companies in Canada’s construction pipeline are Hilton Worldwide with 55 projects/6,558 rooms, followed closely by Marriott International with 54 projects/6,956 rooms and then InterContinental Hotels Group (IHG) with 45 projects/4,328 rooms. These three franchise companies claim 56% of the projects in the total pipeline.
The top brands in Canada’s pipeline are IHG’s Holiday Inn Express with 31 projects/3,134 rooms. Next is Hampton by Hilton with 27 projects/3,148 rooms and TownePlace Suites by Marriott with 14 projects/1,464 rooms.
Other notable brands in the Canadian pipeline are Hyatt Place with 16 projects/2,398 rooms, Best Western Plus with 12 projects/1,027 rooms and Courtyard by Marriott with 11 projects/1,634 rooms.
Leading Companies and Brands in the U.S. Hotel Construction Pipeline August 5, 2019
In the Lodging Econometrics (LE) second quarter report for 2019, the franchise companies leading the United States hotel construction pipeline are Marriott International with 1,469 projects/193,458 rooms, up 9% by projects and rooms year-over-year (YOY). Next, coming off of last quarter’s all-time high, is Hilton Worldwide currently at 1,372 projects/152,853 rooms, a 3% increase YOY. InterContinental Hotels Group (IHG) follows with 962 projects/97,647 rooms, also up 3% by projects and rooms, YOY.
The leading brands in the construction pipeline for each of these three companies are Home2 Suites by Hilton with 413 projects/43,040 rooms, IHG’s Holiday Inn Express with 410 projects/38,814 rooms, and Marriott’s Fairfield Inn with 300 projects/29,133 rooms.
Other prominent brands in the pipeline for these franchise companies are Tru by Hilton with 312 projects/30,254 rooms and Hampton by Hilton with 301 projects/31,271 rooms; Marriott’s Residence Inn with 207 projects/25,201 rooms and TownePlace Suites with 206 projects/21,468 rooms; and IHG’s Avid Hotel with 179 projects/16,316 rooms and Staybridge Suites with 156 projects/16,309 rooms. These leading and prominent brands together comprise 44% of all the projects in the total pipeline.
In the first half of 2019, 70% of the new hotels that opened in the U.S. belonged to Marriott, Hilton or IHG. Marriott opened 120 new hotels/15,429 rooms, Hilton opened 125 new hotels/14,553 rooms and IHG opened 69 new hotels/7,406 rooms.
The LE forecast for new hotel openings in 2020 anticipates that Marriott will open 285 projects/36,504 rooms. Next is Hilton with 274 projects/30,099 rooms, followed by IHG with 211 projects/20,412 rooms.
In 2021, LE forecasts that Marriott will open 328 new hotels/40,841 rooms, IHG to open 284 new hotels/27,810 rooms and Hilton to open 268 new hotels/29,373 rooms. Should all these hotels come to fruition, these three companies will continue their dominance opening 73% of all the new hotels in 2021.
Leading Markets in The U.S. Hotel Construction Pipeline August 1, 2019At the end of the first half of 2019, analysts at Lodging Econometrics (L.E.) report that the top five markets with the largest hotel construction pipelines are New York City with 166 projects/28,231 rooms. Next are Dallas and Los Angeles with 162 projects/19,972 rooms and 158 projects/25,428 rooms, respectively. Houston follows with 146 projects/14,998 rooms, and Atlanta with 130 projects/17,280 rooms. With the exception of NYC and Houston, these top markets are at record high counts.
The top ten markets in the pipeline including the five markets mentioned above plus Nashville, Austin, Orlando, Detroit, and Charlotte account for 25% of the rooms in the total pipeline. Ten states claim a whopping 61% of the rooms in the pipeline: Texas, California, Florida, New York, Georgia, Tennessee, North Carolina, Michigan, Colorado, and Ohio.
For the first half of 2019, the U.S. has opened 456 new hotels/53,527 rooms with another 599 new hotels/66,300 rooms expected to open by year-end. Reflective of the robust pipeline, L.E.’s forecast for new hotel openings will continue to rise through 2021.
Twenty-five percent of the new hotels forecast to open between now and the 2021 year-end are concentrated in ten markets. These markets are New York City, Los Angeles, Orlando, Dallas, Atlanta, Nashville, Houston, Washington DC, Miami, and Phoenix. The top 25 markets are forecast to open 40% of the rooms expected to open.
For the Second Quarter of 2019, the U.S. Hotel Construction Pipeline Continued Its Year-Over-Year Growth Spurt Even as Business Investment Declined for the First Time Since 2016 July 31, 2019Analysts at Lodging Econometrics (LE) reported for the second quarter of 2019, the total U.S. construction pipeline climbed to 5,653 projects/693,207 rooms, up 6% by projects and 9% by rooms year-over-year (YOY). Pipeline totals are just 230 projects shy of the all-time high of 5,883 projects/785,547 rooms reached in the second quarter of 2008.
Projects currently under construction stand at 1,727 projects/233,600 rooms with projects scheduled to start construction in the next 12 months at 2,552 projects/295,989 rooms. Both are at the highest levels since early 2008. Projects in the early planning stage stand at 1,374 projects/163,618 rooms.
In the first half of 2019, the industry opened 456 new hotels with 53,427 rooms. An additional 599 projects/66,300 rooms are expected to open by year-end. In 2020, the LE forecasts for new hotel openings continues to rise with 1,161 new hotels/129,531 rooms scheduled to open. In 2021, with a growth rate of 2.5%, 1,206 new hotels with 139,793 rooms are likely to open as a result of the current robust pipeline. Should all these hotels come to fruition, 2021 will register the highest count for new hotel openings since 2009.
Trendline analysis suggests that the pipeline is in a topping out formation as new project announcements into the pipeline in the second quarter are at 359 projects/ 44,895 rooms, their lowest count since the fourth quarter of 2014. Brand to brand conversions have also declined over the last year and are at the lowest level since the end of 2016.
Although government spending and consumer sentiment and spending remain strong, these declines can be attributed to business spending declines which have turned negative for the first time since early 2016. Declines are due primarily to the uncertainty caused by trade and tariff problems and the slowing global economy.
Lodging Econometrics Develops Premium Data Integration Services for Salesforce and Other Client Relationship Management Platforms February 21, 2019Lodging Econometrics (LE), the global leader for hotel real estate intelligence, announces that it has developed and added a premium data integration service to its business development database offerings. LEConnect for Salesforce and other Client Relationship Management (CRM) platforms allows for LE’s database of decision-makers for new hotel construction projects, renovations, conversions, and open & operating hotels to be seamlessly integrated into any CRM.
“Our clients were very pleased with the upgrades we made to our business development program database and strategy & forecasting center late last year, but recently expressed a need to receive our database content directly into their existing CRM platforms. This is precisely why we built LEConnect and developed this integration service. We’ve designed it so that our clients no longer need two platforms. Now LE can merge any of its global database programs for business development simply and seamlessly into a client’s existing Salesforce or other CRM platform, allowing clients to work entirely within their own platform,” said Timothy Ford, President of Lodging Econometrics.
By subscribing to and installing LEConnect, LE’s clients will be able to identify new accounts with the greatest potential, make more informed and better targeted decisions, increase their sales, and save considerable sales time and staff resources. As with all of LE’s programs, LE also provides staff training and continual support to ensure the successful implementation of their database services throughout the client’s organization.
“For any sales organization in the lodging industry, franchise company, hotel ownership or management group or vendor, LEConnect can immediately improve their productivity and increase their sales. And, for those without an existing CRM platform, LE’s database has the functionality to serve as an organization’s stand-alone CRM platform. We are excited at the opportunity to deliver these new database services to our existing and future clients. Our cutting-edge service removes the frustration and logistics from the data integration process,” said Ford.
To learn how you can get connected with LE’s Business Development Programs, contact us at +1 603.431.8740 or email@example.com.
Congratulations to 2018 ALIS Development of the Year Award Winners! February 14, 2019On Wednesday, January 30, 2019, JP Ford, SVP and Director of Global Business Development of Lodging Econometrics, presented the winners of the 2019 Full-Service and Select/Limited Service Developments of the Year with their prestigious award at the America’s Lodging Investment Summit.
The winner in the Full-Service category was the: Gaylord Rockies Resort & Convention Center. Representing the property was: Ira Mitzner, President and CEO, RIDA Development Corporation; and Noah Silverman, Chief Development Officer, North America Full-Service Hotels, Marriott International.
The winner in the Select/Limited Service category was the: Hilton Garden Inn Chicago McCormick Place, Hampton Inn by Hilton Chicago McCormick Place and Home2 Suites by Hilton Chicago McCormick Place. Representing the property was: David Duncan, President, First Hospitality Group, Inc.
Lodging Econometrics’ Patrick H. Ford Receives Lifetime Achievement Award at The Lodging ConferenceOctober 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.”
Timothy Ford Appointed President of Lodging Econometrics and New England Hotel RealtyPortsmouth, 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.”
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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:
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