According to the latest Global Construction Pipeline Trend Report from Lodging Econometrics (LE), the top five cities with the largest construction pipelines in the world by project count are: New York with 187 Projects/32,136 Rooms; Jakarta with 130 Projects/22,851 Rooms; Seoul with 128 Projects/27,187 Rooms; Shanghai with 114 Projects/24,285 Rooms; and Dubai with 104 Projects/29,948 Rooms.
Top Countries for Hotel Construction
Lodging Econometrics (LE) reports that the countries with the largest construction pipelines in the world are the United States with 4,471 Projects/551,965 Rooms and China with 2,448 Projects/549,222 Rooms. Following at a distance are: Brazil with 407 Projects/70,833 Rooms; Indonesia with 398 Projects/64,695 Rooms; and India with 314 Projects/47,566 Rooms.
Excluding the U.S., the remaining four countries had shrinking pipelines in the last year, down an average of 12% by projects. India recorded the largest drop with a decrease of 19% by project count.
21% of U.S. Hotel Pipeline Yet to Select a BrandÂ
According to a recent United States Construction Pipeline Trend Report from Lodging Econometrics (LE), there are 715 pipeline projects with 113,465 rooms, 21% of the Total Pipeline, that have yet to select a brand. Of these 715 projects 139 are for full-service hotels, 555 are select service and 121 are limited service.
Global Hotel Construction Led by U.S.Â
According to the latest Global Construction Pipeline Trend Report from Lodging Econometrics (LE), the worldwide Pipeline is at 11,196 Projects/1.9 million Rooms, the highest level LE has ever recorded.
The Global Pipeline is up 5% Year-Over-Year (YOY) by projects and 6% by rooms. Growth is led by the United States which now has 40% of the world’s projects and 29% of its rooms in the Pipeline.
Globally there are 5,277 Projects/990,669 Rooms currently Under Construction, down 1% by projects and up 1% by rooms. Projects scheduled to Start Construction in the Next 12 Months, at 3,214 Projects and 466,129 Rooms, is up 24% by projects and 22% by rooms. Projects in Early Planning, with 2,705 Projects/462,016 Rooms, is down 1% by projects and up 3% by rooms.
IHG Leads Hotel Construction Pipeline in Asia
With 122 Projects/27,943 Rooms Intercontinental Hotels Group (IHG) has the largest brand presence by both project and room count in Asia’s Hotel Construction Pipeline for countries outside of China,
Lodging Econometrics (LE) reports. IHG’s top two brands in the region are its Holiday Inn with 48 Projects/11,742 Rooms and Holiday Inn Express with 40 Projects/8,753 Rooms. These two brands represent 72% of all IHG pipeline projects in the region.
Following IHG is Marriott International with 108 Projects/25,301 Rooms in the region, led by their select-service Courtyard brand with 28 Projects/6,234 Rooms. Starwood Hotels & Resorts has the third most projects in the region with 92 Projects/19,966 Rooms, led by Sheraton Hotel with 23 Projects/5,285 Rooms.
IHG also leads by both project and room count in China with 215 Projects/61,227 Rooms, said LE, led by its Holiday Inn Express brand.
Top Development Cities in Asia Outside China
Hotel development research from Lodging Econometrics (LE) shows that the cities with the largest construction pipelines in Asia, outside of China are: Jakarta with 130 Projects/22,851 Rooms; Seoul with 128 Projects/21,187 Rooms; Tokyo with 57 Projects/12,713 Rooms; Kuala Lumpur with 53 Projects/13,440 Rooms; and Bangkok with 40 projects/8,876 Rooms.
Kuala Lumpur, the capital of Malaysia, had the strongest growth in the last year, increasing its pipeline by 14 projects, or 36%. Projects currently Under Construction account for 32 of the 53 projects, 60% of the city’s pipeline.
Hotel Construction Dips in AsiaÂ
According to a recent Asia Pacific Construction Pipeline Trend Report from Lodging Econometrics (LE), the region’s Q1 2016 pipeline, excluding China, has 1,545 Projects/309,186 Rooms, down 5% by projects and 3% by rooms Year-Over-Year (YOY).
For hotels currently Under Construction outside of China the Asia Pacific Pipeline has 851 Projects/176,869 Rooms, down 5% YOY by both projects and rooms. There are 277 Projects/57,769 Rooms scheduled to Start Construction in the Next 12 Months, up 9% by projects and 32% by rooms YOY. Projects in Early Planning, 417 Projects/74,548 Rooms, are down 14% by both projects and rooms.
One Third of U.S. Hotel Projects Are UpscaleÂ
According to a recent United States Construction Pipeline Trend Report from Lodging Econometrics, hotel development in the Upscale chain scale represents 1,384 projects, 31% of the Total Pipeline.
The leading Upscale brands are Residence Inn with 168 Projects, Courtyard with 140 projects and SpringHill Suites with 124 projects. These three largest brands all belong to Marriott International and account for a third of all pipeline projects in the Upscale chain scale.
Top U.S. Hotel Construction MarketsÂ
Lodging Econometrics reports that the five U.S. markets with the largest hotel construction pipelines by project count are New York with 187 projects, Houston with 169, Dallas with 128, Los Angeles with 94 and, new to the top five, Nashville with 89 projects.
Marriott International has the most pipeline projects of any franchise company in four of these markets with 30 in New York, 29 in Dallas, 18 in Los Angeles and 20 in Nashville. In Houston, however, Intercontinental Hotels Group has 46 projects.
Upper Midscale Hotel Project Command PipelineÂ
Analysts at Lodging Econometrics report that there are 2,026 Upper Midscale projects in the U.S. Hotel Construction Pipeline, the highest count of any chain scale and representing 45% of Total Pipeline projects.
The leading Upper Midscale brands are Holiday Inn Express with 389 projects, Hampton Inn & Suites with 336 projects and Home2Suites with 290 projects. These top three brands represent half of all projects in the Upper Midscale pipeline.
Lodging Econometrics (LE) is the leading lodging industry consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and widespread knowledge of key decision makers important to you, LE delivers actionable insights that turn your business goals into timely opportunitiesâ€"driving your strategic advantage.
www.lodgingeconometrics.comÂ
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