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 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.
China’s Hotel Construction Pipeline Continues to Expand with Double-Digit Increases Year-Over-Year June 12, 2019
Analysts at Lodging Econometrics (LE) report that China’s total construction pipeline continues to expand with 2,845 projects/590,809 rooms, up 15% by projects and 8% by rooms year-over-year (YOY). Both projects and rooms in the pipeline are at new all-time highs. Construction growth has been substantially enhanced by the billions of liquidity unleashed by the government last year to offset the manufacturing slump and slowing economy brought about by the escalating trade dispute with the United States.
China has 2,083 projects/414,967 rooms presently under construction, up 21% and 12% YOY, respectively while projects scheduled to start construction in the next 12 months stand at 387 projects/83,074 rooms, both at record highs. Projects in the early planning stage stand at 375 projects/92,768 rooms.
In the first quarter, China opened 185 new hotels/27,455 rooms. LE anticipates 795 new hotels/127,420 rooms will open for all of 2019 while in 2020, 732 new hotels with 124,160 rooms are forecast to open.
Guangzhou leads China’s pipeline with 128 projects/28,367 rooms, near its high set, in the fourth quarter of 2018. Shanghai follows with 114 projects/22,747 rooms. Next is Chengdu at a record high 110 projects/23,295 rooms. Suzhou with 83 projects/15,092 rooms and Hangzhou with 79 projects/17,415 rooms follow.
Franchise companies topping China’s construction pipeline are Hilton Worldwide with 421 projects/86,750 rooms, InterContinental Hotels Group (IHG) with 340 projects/76,861 rooms, and Marriott International with 291 projects/79,860 rooms, all three setting record highs. Next is JinJiang Holdings with 273 projects/31,118 rooms and AccorHotels with 201 projects/35,318 rooms.
Brands in the pipeline are dominated by Hampton by Hilton, at an all-time high, with 242 projects/38,608 rooms. Hilton’s second largest brand is DoubleTree with 65 projects/18,733 rooms. IHG’s primary brand in China is Holiday Inn Express, at a record count, with 162 projects/29,599 rooms and Holiday Inn with 57 projects/14,880 rooms. Marriott International’s top brands are the full-service Marriott Hotel & Resort, hitting an all-time high, with 67 projects/20,373 rooms and Courtyard with 36 projects/9,321 rooms. Leading brands for JinJiang Holdings are 7 Days Inn with 118 projects/9,296 rooms, and Vienna Hotel with 74 projects/10,360 rooms. AccorHotels’ leading brands are hitting all-time highs with 85 Ibis projects/9,214 rooms, and Mercure Hotel with 57 projects/9,948 rooms.
Europe’s Hotel Construction Pipeline is Accelerating and Hitting All-Time Highs Amidst Concerns of an Economic Slowdown Ahead June 7, 2019
Analysts at Lodging Econometrics (LE) report that Europe’s hotel construction pipeline continues its robust up-swing in 2019 with 1,670 projects/254,600 rooms, a remarkable 22% increase in projects and 19% increase in rooms year-over-year (YOY).
There has been an optimistic, upward trend in the European service and construction sectors, which is off-setting the weak outlook for exports and the on-going short-falls in manufacturing. New construction is being positively impacted by accommodative lending policies. Unemployment is at a 19-year low, yet an economic slowdown is still predicted for 2019.
There are 844 projects/133,620 rooms currently under construction and 480 projects/72,588 rooms planning to start construction in the next 12 months, both at record highs. The early planning stage stands at 346 projects/48,392 rooms, slightly off its record high at 2018 year-end.
New project announcements with 360 projects/50,337 rooms and construction starts with 223 projects/33,973 rooms have both reached all-time highs, both quarter-over-quarter and on a rolling-four quarter basis. As a result of these positive pipeline trends, the LE forecast for new hotel openings will continue to soar with 390 new hotels/53,241 rooms anticipated to open in 2019 and a further 426 new hotels/61,490 rooms in 2020, a new record high.
Europe’s leading countries in the construction pipeline are Germany, which is at an all-time high, with 319 projects/57,152 rooms and the United Kingdom with 261 projects/37,910 rooms, marginally trailing the record set in 2018. Following are France and Portugal, both also at record highs, with 188 projects/22,537 rooms and 121 projects/12,190 rooms, respectively. Next is Poland with 91 projects/13,748 rooms.
The cities with the largest pipelines are London with 78 projects/13,285 rooms, Paris with 60 projects/9,255 rooms, Dusseldorf with 53 projects/10,347 rooms, Lisbon with 39 projects/3,457 rooms, and Hamburg with 31 projects/6,101 rooms.
Franchise companies with the largest construction pipelines are AccorHotels, at a record high, with 256 projects/35,073 rooms. Next is Marriott International with 208 projects/33,395 rooms, just short of its high set in 2018. Hilton Worldwide follows with 172 projects/26,466 rooms, and InterContinental Hotels Group (IHG) with 147 projects/24,483 rooms, also just shy of its 2018 high. These four companies account for 47% of the projects and rooms in the total pipeline.
The leading brands for each of these franchise companies are AccorHotel’s Ibis brands with 134 projects/16,901 rooms, Mercure Hotel, at an all-time high, with 28 projects/2,918 rooms, and Novotel with 25 projects/4,246 rooms. Marriott International’s top brands are Moxy with 64 projects/11,422 rooms, Courtyard by Marriott with 33 projects/5,758 rooms, and Residence Inn, at an all-time high, with 17 projects/1,607 rooms. Hilton Worldwide has Hampton Inn with 70 projects/ 10,790 rooms, Hilton Garden Inn 43 projects/6,416 rooms, and DoubleTree by Hilton 23 projects/2,985 rooms. IHG’s top brands include Holiday Inn Express with 72 projects/10,900 rooms, Holiday Inn 33 projects/7,541 rooms, and Hotel Indigo 13 projects/1,554 rooms.
Global Construction Pipeline Hits Record High at 2018 Year-End March 6, 2019Lodging Econometrics (LE) has released its year-end Global Construction Pipeline Trend Report, which compiles the construction pipeline counts for every country and market around the world. At the close of 2018, LE analysts state that the total global construction pipeline hit record highs with 13,573 projects/2,265,792 rooms, a 7% increase in projects and a 6% increase in rooms year-over-year (YOY).
The global pipeline has been ascending for eight consecutive years after reaching its cyclical low in 2010. All regional pipelines, with the exception of South America, continued their upward trend YOY. It is notable considering economic growth rates started to decline in 2018 and are forecast to slow further in 2019 and 2020. Four of the seven global regions reached all-time highs in 2018: Europe, Africa, Middle East, and Asia Pacific.
There are a record-high 6,352 projects/1,172,591 rooms currently under construction worldwide. Projects scheduled to start construction in the next 12 months are at 3,860 projects/572,483 rooms. Projects in the early planning stage stand at 3,361rooms/520,718 projects, also at an all-time high.
The top countries by project count are the United States with 5,530 projects/669,456 rooms, still short of its all-time high of 5,883 projects/785,547 rooms set in the second quarter of 2008, and China with 2,761 projects/580,635 rooms whose pipeline reached a new all-time high. The U.S. accounts for 41% of projects in the total global construction pipeline while China accounts for 20%, resulting in 61% of all global projects being focused in just these two countries. Distantly following are Indonesia with 387 projects/65,405 rooms, Germany with 283 projects/52,569 rooms, and the United Kingdom with 266 projects/38,590 rooms.
Around the world, the cities with the largest pipeline counts are New York City with 171 projects/29,457 rooms, Dubai with 168 projects/49,943 rooms, and Dallas with 163 projects/19,476 rooms. Los Angeles follows with 147 projects/23,404 rooms, and Guangzhou, China with 132 projects/28,694 rooms.
The leading franchise companies in the global construction pipeline by project count are
Marriott International with 2,544 projects/420,405 rooms, Hilton Worldwide with 2,252
projects/333,209 rooms, InterContinental Hotels Group (IHG) with 1,716 projects/249,379
rooms, and AccorHotels with 966 projects/177,052 rooms. These four companies account for 55% of all projects in the global pipeline.
Brands leading in the pipeline for each of these companies are Marriott’s Fairfield Inn with 397
projects/43,089 rooms, Hampton by Hilton with 619 projects/79,591 rooms, IHG’s Holiday
Inn Express with 731 projects/91,691 rooms, and AccorHotel’s Ibis Brands with 321 projects/48,368 rooms.
2018 saw a total of 2,675 new hotels/403,153 rooms open around the world. As a result of the current global pipeline being at an all-time high, LE forecasts that new hotel openings will continue to climb with 2,844 hotels expected to open in 2019. In 2020, new openings are forecast to accelerate further to 3,088 hotels. Over this three-year period, approximately 60% of new hotels opening will occur in the U.S. and China.
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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