Upper Midscale and Upscale Are the Largest Chain Scales in the U.S. Construction Pipeline Comprising 67%
November 10, 2017 1:30pm
November 10, 2017 – PORTSMOUTH, NH – Analysts at Lodging Econometrics (LE) report that the Upper Midscale category stands at 2,066 Projects/205,330 Rooms, and has the largest project count of all chain scales in the Total U.S. Construction Pipeline. The second largest is the Upscale category which has 1,274 Projects/164,628 Rooms. Together, the Upper Midscale and Upscale Pipelines comprise 67% of all projects in the Total Pipeline.
The brands with the largest number of projects in Upper Midscale are; IHG’s Holiday Inn Express with 442 Projects/41,053 Rooms; Hilton’s Home2 Suites 348 Projects/36,439 Rooms and Hampton Inn & Suites with 324 Projects/33,627 Rooms, and Marriott’s Fairfield Inn with 284 Projects/27,411 Rooms.
In Upscale, the top brands are; Marriott’s Residence Inn with 189 Projects/23,605 Rooms, and SpringHill Suites with 157 Projects/17,795 Rooms followed by Hilton Garden Inn with 136 Projects/18,237 Rooms and Courtyard by Marriott with 133 Projects/17,308 Rooms.
Currently, in the Census of Open & Operating hotels there are 9,894 Hotels/972,115 Rooms in Upper Midscale and 4,850 Hotels/732,131 Rooms in Upscale. As would be expected, these two chain scales are forecasted to have the highest guest room growth rates through 2018. The Upper Midscale chain scale is forecasted to grow its guest room Census by 4.7% and Upscale by 5.0% in 2017, and by 5.2% and 5.4% in 2018, respectively.
According to recent reports from Lodging Econometrics (LE), there are 1,295 extended-stay Projects/136,945 Rooms in the U.S. Hotel Construction Pipeline. 438 Projects/48,903 Rooms are Under Construction, accounting for 28% of all projects Under Construction in the Total Pipeline. 609 Projects/64,359 Rooms are Scheduled to Start Construction in the Next 12 Months while an additional 248 Projects/23,683 Rooms are in Early Planning.
Home2 Suites by Hilton currently has the largest extended-stay Pipeline with 348 Projects/36,439 Rooms. The second largest brand is Marriott’s Residence Inn with 189 Projects/23,605 Rooms, followed by its Towneplace Suites with 183 Projects/18,590 Rooms.
In 2016, 224 extended-stay Hotels/24,196 Rooms opened. At the end of 2017, 241 Projects/26,640 Rooms are expected to open. In 2018, 322 Projects/34,696 Rooms and in 2019, 340 Projects/37,043 Rooms are forecast to open.
Tags: lodging econometrics,
u.s. construction pipeline,
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
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