Record number of new hotel brands in US
Twenty-four new hotel brands were launched in the US in 2005 and 2006, the largest number in a two-year period since 1989.
The new brand launches represented a wide spectrum, according to PricewaterhouseCoopers. These included non-US brands affiliating with hotels in the US, new concepts targeted at Gen-Xers and Millenials, independent brands, brands affiliated with established lodging companies and brands at many price levels.
Said Bjohn Hanson, principal, PricewaterhouseCoopers:
“Accelerating demand, the increasing representation and influence of Gen-Xers and Millennials, globalization and the trend for major brands to offer a range of service and price levels — all occurring at the same time that supply growth is accelerating — is resulting in a record number of brand introductions,”
Brands introduced included Waldorf-Astoria Collection, Le Crillion, Blue, Solage Hotels & Resorts, James Hotels, Stay Social, Palomar, Element, CitiStay Hotels, Capella, and many others.
Among the brands introduced in the U.S. in 2005 and 2006, 10 brands were introduced by new companies; two brands were international brands new to the US lodging market; and one was a brand extension.
Four of the nine brands introduced in 2006 were primarily targeted towards the Gen X.
Report by David Wilkening
David
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