Among the global regions, Asia saw the only decline in revenue per available room (RevPAR) from 2019, according to 2022 data from STR.
Radisson Hotel Group enters 2023 with strong foundation for growth
Radisson Hotel Group has paved the way for a strong 2023 by strengthening its foothold in Asia Pacific, doubling the number of signings in 2022, celebrating new openings, and announcing market entrances. Last year, growth in priority markets was spearheaded by highly localized strategies which included the establishment of dedicated Business Units with on-the-ground teams to enhance support for the Group’s owners and partners in their time zones and local languages.
Marriott, Hilton, and IHG close Q4 2022 with largest projects counts
As reported in the fourth quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE) for 2022, the franchise companies with the largest construction pipelines at the end of Q4 are led by Marriott International (Marriott) with 1,490 projects/180,113 rooms. Following Marriott is Hilton Worldwide (Hilton) with 1,378 projects/154,790 rooms and InterContinental Hotels Group (IHG) with 789 projects/78,951 rooms. Combined, these three companies account for 67% of the projects and 64% of the rooms in the total pipeline.
Dallas is tops with the largest hotel construction pipeline in the U.S.
According to the fourth quarter United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the U.S. market with the largest hotel construction pipeline by projects is Dallas with a record high count of 176 projects, accounting for 20,790 rooms. Following Dallas is Atlanta with 145 projects/18,100 rooms, Los Angeles with 122 projects/19,419 rooms, Phoenix with 116 projects/16,229 rooms, and Nashville with 106 projects/14,198 rooms.
U.S. hotel ADR and RevPAR reached record highs in 2022
The U.S. hotel industry reported average daily rate (ADR) and revenue per available room (RevPAR) that were the highest for any year on record, according to 2022 data from STR.
Project and Room Counts in all stages of the U.S. hotel construction pipeline increase year-over-year at Q4 2022 close
In the most recent Construction Pipeline Trend Report for the United States (U.S.) from Lodging Econometrics (LE), at the close of 2022’s fourth quarter, the U.S. construction pipeline stands at 5,465 projects/650,626 rooms, up 14% by projects and 12% rooms Year-Over-Year (YOY).
Hotel pipeline activity down around the world, except in Middle East and Africa
Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the fourth quarter, according to December 2022 data from STR.
Third party hotel operators set to grow across Europe, says HVS
The number of hotel owners using third-party operators to run their properties looks set to increase across Europe, reflecting the desire for flexibility as well as a number of other benefits, according to a new report from global hotel consultancy HVS.
U.S. hotel results for week ending 14 January
U.S. hotel performance rose from the previous week and showed mixed comparisons against 2019, according to STR‘s latest data through 14 January.
IHG Hotels & Resorts’ voco hotels enters 2023 with strong growth momentum
IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies with more than 6,000 destinations across 18 brands, is celebrating recent successes and upward momentum for voco hotels – an emerging brand that already is the fastest-growing within its premium portfolio. With 10 new openings in 2022* bringing its global total to 41 hotels, and an additional 34 in the pipeline, voco hotels continues to extend its presence with more exciting growth planned in 2023.
