Year-Over-Year the Global Hotel Construction Pipeline Continues to Increase*
PORTSMOUTH, NH - The latest Global Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), an industry-leading company that compiles construction pipeline counts for every global region, country, and city around the world, states that the global hotel construction pipeline stands at 14,779 projects/2,412,736 rooms. Year-over-year (YOY) the pipeline increased 5% by projects and 4% by rooms with several stages of the pipeline hitting their peaks by project and rooms counts.
The top countries by project count are the United States with 5,582 projects/687,801 rooms and China reaching a new all-time high with 3,574 projects/647,704 rooms. Sixty-two percent of all global projects in the pipeline are found within these two countries. The U.S. accounts for 38% of projects in the total global construction pipeline while China accounts for 24%. Distantly following are the United Kingdom with 350 projects/52,398 rooms, Indonesia with 345 projects/56,373 rooms and Germany with 296 projects/39,645 rooms.
Around the world, the cities with the largest pipeline counts are Los Angeles, CA with 163 projects/27,415 rooms; Dallas, TX with 158 projects/19,314 rooms; and New York, NY with 151 projects/26,302 rooms. Dubai follows with 144 projects/44,895 rooms, then Guangzhou China with 140 projects/27,753 rooms and Atlanta with 135 projects/18,634 rooms.
The leading franchise companies in the global construction pipeline by project count are Marriott International with 2,682 projects/452,459 rooms, Hilton Worldwide with 2,532 projects/378,124 rooms, InterContinental Hotels Group (IHG) with 1,798 projects/263,057 rooms, and AccorHotels with 886 projects/157,362 rooms. These four companies account for 53% of all projects in the global pipeline.
Brands leading in the pipeline for each of these companies are Marriott's Fairfield Inn with 431 projects/50,249 rooms, Hampton by Hilton with 775 projects/102,815 rooms, IHG's Holiday Inn Express with 712 projects/90,479 rooms, and AccorHotel's Ibis Brands with 319 projects/44,817 rooms.
Throughout the first half of 2020, the world opened 891 hotels accounting for 131,921 rooms.
*COVID-19 (coronavirus) has had an unprecedented impact on the world and the hospitality industry. LE's market intelligence department has and will continue to gather global hotel intelligence on the supply side of the lodging industry and make that information available to our subscribers. It is still early to predict the full impact the pandemic will have on the lodging industry. We will have more information to report in the coming months.
About Lodging Econometrics (LE)
Lodging Econometrics is the leading provider of global hotel intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable business development programs for hotel franchise companies looking to accelerate their brand growth, hotel ownership and management companies seeking to expand their real estate portfolios, and lodging industry vendors wanting to increase their sales. LE's programs turn a client's business goals into opportunities that advances their competitive advantage.