New York Has the Most New Hotel Openings Forecasted for 2017 & Marriott Has Largest Construction Pipeline
May 17, 2017 9:31am
May 17, 2017 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the five markets with the largest hotel construction pipelines by project count are: New York with 185 Projects/29,447 Rooms; Houston with 158 Projects/17,475 Rooms; Dallas with 141 Projects/17,869 Rooms; Nashville with 124 Projects/15,614 Rooms; and Los Angeles with 111 Projects/17,701 Rooms.
New York has the most New Hotel Openings forecasted for 2017 of any market with 47 Hotels/7,534 Rooms. Then Dallas, which is forecasted to open 44 Hotels/5,050 Rooms, Houston with 33 Hotels/3,505 Rooms, Austin with 21 Hotels/2,321 Rooms and Los Angeles with 20 Hotels/4,202 Rooms.
The markets with the most New Project Announcements into the Pipeline in the first quarter were: Dallas with 18 Projects/2,282 Rooms, New York with 16 Projects/2,510 Rooms, Orlando with 14 Projects/1,837 Rooms, Tampa with 13 Projects/1,313 Rooms and Kansas City with 11 Projects/1,288 Rooms.
Marriott International currently has the largest and most active pipeline by room-count of any franchise company with 163,063 Rooms/1,264 Projects. Their largest brands in the Pipeline are; Fairfield Inn with 27,220 Rooms/285 Projects, Residence Inn with 23,725 Rooms/188 Projects and TownePlace Suites with 18,450 Rooms/180 Projects.
Marriott also has the most rooms currently Under Construction with 65,924 Rooms/487 Projects, which represents over 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Construction in the Next 12 Months with 78,404 Rooms/637 Projects. And in Early Planning, Marriott has 17,117 Rooms/140 Projects.
In the first quarter, Marriott opened 64 new hotels with 7,187 rooms, just under 30% of all new rooms opened in Q117. The brands with the largest number of new hotels opened are Fairfield Inn with 1,499 Rooms/16 Hotels and Courtyard with 1,411 Rooms/13 Hotels.
Tags: lodging econometrics,
Lodging Econometrics (LE) is the lodging industry’s leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients’ business goals into timely opportunities.
Contact: Emily Dennison
Latin America's Construction Pipeline Stalling With Pojects Down 5% YOY
Projects in Canada's Construction Pipeline Up 17% YOY
Mid-Market Brands Led Hotel Sales Volume in 2017
Orlando Tops 2017 Markets with 21 Hotels Sold and Average Selling Price Per Room of $96,402
Hotel Sales Volume Declines, Average Price Per Room Increases Moderately
Extended-Stay Hotels Account for 27% of All Projects Under Construction
2.5% Growth Rate of New Hotel Openings Expected in 2018 & 2019
Upper Midscale and Upscale Projects Lead the U.S. Construction Pipeline Comprising 67% of Total Pipeline
Marriott, Hilton and IHG Lead U.S. Construction Pipeline Comprising 69% of Total Pipeline
Marriott Boasts Largest Franchise in U.S. Construction Pipeline with 1,410 Projects Total
The Year-End U.S. Hotel Construction Pipeline Continues Its Upward Growth Trend, Projects Up 4% YOY
North America, Asia Pacific and EMEA Lead World Regions in Global Hotel Construction Pipeline
Global Hotel Construction Pipeline Up 8% YOY with 12,427 Projects
Shanghai Leads China's Construction Pipeline Followed by Guangzhou, Chengdu and Beijing
Asia Pacific Construction Pipeline Excluding China Up 15% by Projects YOY
Middle East Construction Pipeline Shows Growth with Projects Up 12% YOY
Europe's Hotel Construction Pipeline Up 22% Led by AccorHotels
Latin America’s Construction Pipeline is Stalling, Down 4% by Projects YOY
Projects in Canada's Construction Pipeline are Up 11% YOY
New Openings Growing Steadily as the Cycle Matures
Please login or register to post a comment.