Canada Construction Pipeline at 245 Projects 32,499 Rooms at Mid-Year | LE Reports
The Construction Pipeline stands at 245 projects 32,499 rooms, a slight decline from the cyclical peak in Q1 2008 - With 103 projects 17,181 rooms, the top 6 markets account for 42% of the total projects and 53% of all rooms in the Pipeline - 33% of Pipeline projects are already Under Construction and near certain to come online as New Supply - Nearly 80% of the projects in the Pipeline have already made branding decisions - Development is...
- The Construction Pipeline stands at 245 projects 32,499 rooms, a slight decline from the cyclical peak in Q1 2008
- With 103 projects 17,181 rooms, the top 6 markets account for 42% of the total projects and 53% of all rooms in the Pipeline
- 33% of Pipeline projects are already Under Construction and near certain to come online as New Supply
- Nearly 80% of the projects in the Pipeline have already made branding decisions
- Development is heaviest in Upscale, Midscale w/o Food & Beverage and Economy.
- The average project size is 133 rooms - LE has revised its Forecast for New Hotel Openings downward to a 3.4% gross growth rate in 2008 and 3.3% in 2009.