As reported in the recently released Construction Pipeline Trend Report for Canada by Lodging Econometrics (LE), at the close of Q1 2023, the country’s hotel construction pipeline currently stands at 283 projects/37,683 rooms. Canada’s total construction pipeline increased 10% by projects and 5% by rooms year-over-year (YOY).
Marriott, Hilton, and IHG continue to dominate the U.S. Hotel Construction Pipeline
In the recently released United States Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts detailed the leading franchise companies and their brands in the construction pipeline at the close of the first quarter. Marriott International (Marriott) tops the charts with the greatest number of projects in the U.S. hotel construction pipeline, at Q1 2023, with 1,499 projects/181,377 rooms, followed closely by Hilton Worldwide (Hilton), with a record-high count of 1,436 projects/161,359 rooms, and then InterContinental Hotels Group (IHG) with 809 projects/80,679 rooms. Combined, these three franchise companies comprise 68% of the projects in the total U.S. pipeline.
U.S. hotel TRevPAR highest on record in March
U.S. hotel total revenue per available room (TRevPAR) was the highest for any month on record, according to STR‘s March 2023 P&L data release.
Hotel transactions see 18% decline in 2022 as interest rates surge
Hotel transactions across Europe failed to show the recovery expected during 2022 as confidence was hit by the Russian invasion of Ukraine which fuelled huge increases in energy and food costs, a rise in overall inflation and higher interest rates.
Coronation, Eurovision driving hotel bookings in key U.K. markets
Multiple events in the U.K., including the King’s coronation and Eurovision, are driving hotel occupancy on the books in both London and Liverpool, according to STR’s Forward STAR data.
U.S. hotel results for week ending 22 April
U.S. hotel performance increased from the previous week, according to STR‘s latest data through 22 April.
Year-Over-Year Growth in the Hotel Construction Pipeline for the Top 25 U.S. Markets as a Group
In the Q1 2023 U.S. Construction Pipeline Trend Report released by Lodging Econometrics (LE), LE analysts report, that as a group, year-over-year the hotel construction pipeline has grown in the Top 25 Markets in the U.S. The top five U.S. markets with the largest hotel construction pipelines at the close of the first quarter are led by Dallas with, record-high project and room counts of 184 projects/21,810 rooms. Following are Atlanta with 144 projects/18,242 rooms, Los Angeles with 118 projects/19,066 rooms, Phoenix with 117 projects/16,100 rooms, and Nashville with 115 projects/15,354 rooms.
Small Luxury Hotels sets its sights on Australia and New Zealand as priority markets
Small Luxury Hotels of the World (SLH), a collection of over 520 independently owned luxury hotels in more than 90 countries, is investing in its presence in the Australia and New Zealand (ANZ) markets, as integral parts for the brand’s strategic direction and expansion plans post-pandemic.
Marina Bay Sands ushers in a new era of luxury hospitality
Marina Bay Sands’ US$1 billion reinvestment programme – its most ambitious to date since opening in 2010 – reached a critical milestone this week with the completion of over 850 hotel rooms that are setting the tone for a new era of luxury hospitality.
Canada hotel occupancy reached five-month high in March
Canada’s hotel occupancy was its highest since October 2022, according to STR‘s March 2023 data.
