Global hotel pipeline tipped to peak
NEW YORK – The US company Lodging Econometrics (LE) says the lending crisis has brought a worldwide slowing of the forward migration of pipeline hotel as project financing dries up.
“This indicates a possible cresting for new openings in 2010 and a potential peak for the cycle,†it says.
Lodging Econometrics reports 74% of all projects in the hotel pipeline have already chosen a brand while 2,811 projects are currently labeled as independents, of which approximately 70% will choose a brand prior to opening.
“This represents significant opportunity for global franchise development teams,†said LE.
InterContinental has the largest construction pipeline in the world with 1,645 projects and 218,219 rooms.
In addition to its InterContinental and Crowne Plaza brands, it has a portfolio of select service brands that are uniformly being developed across the globe led by its Holiday Inn and Holiday Inn Express labels. Staybridge Suites is a more recent portfolio addition globally.
Marriott, with 946 projects and150,873 rooms, has the largest global pipeline of luxury and upper upscale projects. Most are world-class, state-of-the-art designs in capitals and other major cities, business and economic hubs and leading resort locations in both mature countries and emerging economies.
JW Marriott, Ritz Carlton, Marriott Hotels and Resorts, Renaissance, and the upscale Courtyard brands have created Marriot’s worldwide positioning.
Hilton Hotels’ global pipeline has 1,027 projects and 139,201 rooms. After the recent merger between the US-based Hilton Group and Hilton International, their global development strategies have accelerated.
Development staffs have been increased to introduce Hilton’s select service brands, Hilton Garden Inn and Hampton Inn, globally. Doubletree has also been launched worldwide, primarily as a high-end conversion brand
Ian Jarrett
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