Lodging Econometrics last month released its first ever Global Construction Pipeline Report at the annual meeting of the American Hotel and Lodging Association in New York.
Lodging Econometrics last month released its first ever Global Construction Pipeline Report at the annual meeting of the American Hotel and Lodging Association in New York.
The company's president Patrick Forward said the report took more than three years to compile.
"It identifies every planned lodging project around the world," he explained. "The inaugural report, which will be updated and available as a quarterly subscription, contains extensive detail on 10,781 planned hotels worldwide, having more than 1.8 million guestrooms. They have been identified by LE's staff of 50 global researchers, verified with each developer and cross-referenced with the appropriate lodging brands worldwide."
In addition to providing summaries for each market, country and continent, competitive set summaries have been created for every lodging company and brand and for each investor group.
The report also includes a three-year forecast for new openings.
According to Ford the report will be valuable for real estate investors, the lodging industry and suppliers looking to target new markets of opportunity and fine-tune long-term strategies.
"LE's Global Construction Pipeline Report will document the most prolific period of hotel development in history," Ford added.
"Many projects were seeded earlier in the decade. New hotel openings are set to surge and will set a global record in both 2009 and 2010, exceeding more than 2800 new hotels per year and having more than 450,000 rooms. That will prove to be a cyclical high for new supply, as there is now a noticeable deceleration in new project announcements into the pipeline brought about by the recent financial crisis and economic slowdown."
For more information about the report contact: info@lodgingeconometrics.com.
• The total pipeline includes 10,781 rooms with more than 1.8 million rooms - a 28% increase year-on-year.
• More than 40% of projects (46% of rooms) are already under construction.
• The biggest markets for development are the US - with 43% - followed by Asia Pacific and Europe.
• A fall off in totals is becoming evident as developer sentiment is affected by negative financial outlooks - pointing to a possible cresting for new openings after 2010.
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