In the Q3 2022 Latin America Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts report the total construction pipeline stands at 548 projects/90,728 rooms, down 5% by projects and 12% by rooms, year-over-year (YOY).
Hotel renovation projects in Canada show substantial YOY increase at Q3 close
According to the recent Hotel Construction Pipeline Report for Canada by Lodging Econometrics (LE), LE analysts report that in the third
quarter of 2022 the total construction pipeline in Canada stands at 263 projects/34,825 rooms, up 2% by projects and rooms year-over-year (YOY).
Decline in U.S. hotel construction is easing
September 2022 was the third consecutive month with an uptick in U.S. hotel construction, while year-over-year declines have been lessening each month since May 2022, according to STR.
U.S. hotel construction continued on a downward trajectory in June
While U.S. hotel construction has declined for seven consecutive months, rooms in construction in both New York City and Nashville represent a significant percentage of those markets’ existing supply.
Hotel pipeline activity down across the global regions
Each of the four world regions showed a year-over-year decline in hotel pipeline activity at the end of the second quarter.
Middle East hotel construction pipeline stalled
72% of the projects in the Middle East are in the top three high-end chain scales of luxury, upper upscale, and upscale.
Europe’s hotel construction pipeline sees slight decline
According to Lodging Econometrics, Europe ends 2022’s first quarter with 11% decrease by rooms year-over-year.
China’s hotel construction pipeline hits record high
At the end of Q1 ‘22, China’s total hotel construction pipeline reached record high project and room counts.
APAC hotel construction pipeline shows YOY growth
Hotel construction pipeline in the Asia Pacific region, excluding China, is up 7% by projects and 9% by rooms Year-Over-Year.
Latin America’s hotel construction pipeline
Latin America hotel construction pipeline is down 7% by projects and 11% by rooms, year-over-year at the end o Q1 2022.
