STR reports Canadian hotel pipeline for March 2011
The Canadian hotel development pipeline comprises 193 projects totaling 20,715 rooms, according to the March 2011 STR/McGraw Hill Construction Dodge Pipeline Report. This represents a 3.8-percent decrease in the number of rooms in the total active pipeline compared to March 2010.
"Canada's pipeline has held steady in the first-quarter 2011 as compared with the same time last year," said Lana Yoshii, VP of content management at STR. "Upscale projects in the active pipeline account for more than a quarter of the total in 2011 with 5,507 rooms when last year there were 5,941 rooms. There is a notable difference in Unaffiliated projects in the In Construction phase. As of March 2011, there are 1,745 rooms In Construction while in 2010 there were just 825. This is a difference of 111 percent and 920 rooms. While some of these projects might eventually become brands we could see a large percentage of independent rooms in the future."
Among the Chain Scale segments, two segments reported an increase in rooms in the total active pipeline: the Upper Midscale segment (+28.6 percent with 4,797) and the Unaffiliated segment (+7.2 percent with 9,274 rooms). The Luxury segment reported a 66.3-percent decrease in rooms in the total active pipeline with 200 rooms. The Upper Upscale segment ended the month with no rooms in the total active pipeline.
About STR/McGraw Hill Construction Dodge Pipeline Report:
The Pipeline Report is co-produced by McGraw Hill Construction Dodge, and the dedicated pipeline team at STR. Available as an annual subscription or a local Market Supply Report, the Pipeline Report is a comprehensive look at new hotel development and existing supply in the U.S. and Canada.
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