Moderate Growth Continues in the Hotel Construction Pipeline with Projects Up by 12% YOY
February 16, 2017 1:51pm
February 16, 2017 – PORTSMOUTH, NH – According to the year-end United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the Total Construction Pipeline ended 2016 with 4,960 Projects/598,688 Rooms, up 12% by projects and 10% by rooms Year-Over-Year (YOY). Q4 2016 is the 19th consecutive quarter of pipeline growth, since the cyclical bottom of 2,720 Projects/331,129 Rooms reported in Q1 2012.
At year-end, there were 1,520 Projects/196,409 Rooms Under Construction, up by 208 projects YOY or 16%. Projects Scheduled to Start in the Next 12 Months, at 2,392 Projects/268,843 Rooms, were up 466 projects, 24%. Projects in Early Planning at 1,048 Projects/133,436 Rooms were down by 127 projects or 11% as some projects are rapidly migrating up the Pipeline towards Construction in anticipation of future interest rate increases. Construction Starts in 2016 at 1,166 Projects/142,563 Rooms were at an 8-year high.
New Project Announcements into the Pipeline during 2015-16 were at the highest levels since 2008, while Conversions were at a 10-year high. Reflecting a modestly improving economy, overall pipeline growth has been moderately up-trending since early 2012. Economic indicators suggest that the Pipeline may continue to grow for at least another two years.
Tags: lodging econometrics,
construction pipeline trend report,
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
Upper Midscale Category Leads Construction Pipeline with 2,067 Projects/205,662 Rooms Followed by Upscale with 1,246 Projects/161,229 Rooms
Marriott Takes Top Spot for Franchise Companies with Most Rooms in Construction Pipeline Trend Report
New York Has the Most New Hotel Openings Forecasted for 2017 & Marriott Has Largest Construction Pipeline
United States Construction Pipeline Continues Moderate Growth with Hotel Projects Up 13 Percent YOY
Global Construction Pipeline Shows Steady Increase with Projects Up by 6 Percent YOY for 2016
Asia Pacific Pipeline Continues Moderate Decline with Projects Down 2 Percent YOY
New York Boasts Largest Hotel Construction Pipeline in U.S. at Year-End 2016
D'Ambra Construction Co. Gains Approval for Development of $20 Million, 120-room Hyatt Place Hotel in Warwick, RI
Hotel Construction Pipeline in Latin America is Steady with 892 Projects, Up 3 Percent YOY
Marriott Takes Top Spot Leading Franchise Companies in Global Hotel Construction Pipeline with 2,021 Projects
Dubai Tops List for Largest Construction Pipeline in Middle East with 110 Projects /31,555 Rooms
Global Hotel Construction Pipeline Shows Modest Growth, Up 6 Percent by Projects YOY
Seoul Remains Top City for Hotel Construction Pipeline in Asia Pacific with 159 Projects
Los Angeles Has More Pipeline Rooms in Early Planning Than Any Other Market
Sao Paulo Leads Latin America's Hotel Construction Pipeline with 38 Projects Followed by Campinas, Brazil and Rio de Janeiro
The Middle East's Top Three Cities with Largest Construction Pipelines are Dubai; Riyadh, Saudi Arabia; and Doha, Qatar
Middle East Construction Pipeline Accelerates with Projects Up 16% and Rooms up 11% YOY
London Leads Europe's Hotel Construction Pipeline Followed by Istanbul and Moscow
Europe's Hotel Construction Pipeline Shows Steady Growth with Projects Up 7% and Rooms Up 6% YOY
Seoul, Jakarta and Tokyo Top Cities in Asia with Largest Hotel Construction Pipeline
Please login or register to post a comment.