Europe, Middle East, Africa Q2 2009 Construction Pipeline - Lodging Econometrics
In Europe, New Project Openings peaked in 2008 at 312 hotels having 43,219 rooms. New Openings will remain high through 2010 then start to decline markedly in 2011 and thereafter. LE expects 147 projects/27,547 rooms to open in 2011, down 36% by rooms from the 2008 peak.
New Openings in Africa will be in a cyclically high topping formation over the next three years. In 2010, the peak will be reached when 56 projects/10,373 rooms open. 55% of Africa’s Total Pipeline projects are already Under Construction.
Europe, Middle East, Africa Q2 2009 Construction Pipeline - Lodging Econometrics
For the first time, Lodging Econometrics (LE) has compiled and announced its 2011 Forecast for New Hotel Openings for Europe, the Middle East and Africa. 322 projects/72,077 rooms are forecasted to come online in 2011. LE has also adjusted its forecasts downward for 2009 and 2010 due to the recessionary declines that continue to impact the lodging industry and project totals in the Pipeline throughout the region. The 2009 forecast has been reduced to 380 new hotels/63,244 rooms, down a substantial 10,328 rooms. The 2010 forecast, adjusted down by 7,340 rooms, calls for New Openings of 392 projects/81,921 rooms.
