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Construction Pipeline Trend Report by Lodging Econometrics (LE) shed light on cross-market trends. Dallas emerged as the strongest market, leading the nation with a record-breaking 193 projects/22,291 rooms, signifying Dallas’s growth and confidence in the hospitality sector. In the ever-changing landscape of the U.S.
hotel industry maintains a steady development pipeline, though current activity reflects a more cautious approach amid near-term challenges. Hotel Construction Pipeline Trend Report, the total pipeline has expanded to 6,376 projects encompassing 749,561 rooms—representing a 5% increase in projects and 7% growth in rooms compared to Q1 2024.
According to the recent Q2 2024 United States Construction Pipeline Trend Report from Lodging Econometrics (LE), at the close of the quarter, the five markets with the largest hotel construction pipelines were led by Dallas with 189 projects, just four projects shy of its record-high at the end of Q4 2023 and a new record-high 22,392 rooms.
With a new focus on global market diversification, the three-year pipeline over 285 new hotels and almost 47,000 keys will see the addition of more than 100 properties in Asia, more than 60 in the Middle East and Africa, and 40 in Australia and New Zealand.
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Construction Pipeline Trend Report from Lodging Econometrics (LE) reported that, at the close of the first quarter, the top five markets with the largest hotel construction pipelines were led by Dallas with 185 projects/21,882 rooms, slightly below record-highs recorded at the end of Q4 2023. The recent U.S.
WASHINGTON—The Americas is the only world region that showed a year-over-year increase in pipeline activity at the end of the first quarter, according to March 2024 data from CoStar.
Marriott International has marked another year of strong growth in the Asia Pacific excluding China (APEC) region, signing a record 109 deals across 11 markets, contributing 21,439 rooms to the region’s development pipeline, closing the year with 77,532 total rooms in the region’s year-end pipeline.
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 United States. Markets Grow in the Hotel Construction Pipeline appeared first on LODGING Magazine. In the Q1 2023 U.S.
Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE) finds that, at the close of the first quarter of 2025, the top five markets with the largest hotel construction pipelines are led by Dallas with 203 projects/24,496 rooms, a new all-time-high room total representing 9% project and 11% room growth year-over-year (YOY).
WASHINGTON—Europe is the only world region with lower hotel pipeline activity year over year, according to September 2024 data from CoStar. percent) Among countries in the region, Germany (27,175) led in construction activity, closely followed by the United Kingdom (24,733). percent)Final Planning: 87,779 rooms (down 21.9
Construction Pipeline Trend Report from Lodging Econometrics (LE), the pipeline stood at 5,964 projects/693,963 rooms. The pipeline hit record project counts in Q4, with the addition of 260 projects and 21,287 rooms over the last quarter, a 9 percent increase in projects, and a 7 percent increase in rooms year-over-year (YOY).
The Q1 2024 Global Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE) revealed that the total global pipeline hit an all-time high for room counts and highlighted an increase in full-service projects at the close of the first quarter.
Accors luxury and lifestyle brands Sofitel, Sofitel Legend, MGallery and Emblems achieved record growth in 2024 with close to 90 hotels signed collectively. Now with a reignited pipeline, 32 new Sofitel hotels are to be opened over the coming years, expanding into key destinations such as Egypt, Vietnam, Portugal, Ireland, Mexico and India.
The upscale property, located close to Darwin Entertainment Centre, will feature an all-day dining restaurant, meeting space, fitness centre and outdoor pool, with all guest rooms featuring self-contained kitchenettes. The broader IHG portfolio now includes 69 hotels in Australasia, with another 26 properties in its development pipeline.
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. Year-over-year, the top 25 markets in the U.S., pipeline rose 20% by projects and 30% by rooms YOY.
Radisson Hotel Group has established a strong market position in South East Asia and Pacific particularly in emerging cities and markets. What SEAP markets are a key focus for Radisson Hotel Group and why? We’ve also added local language capabilities and local management offices to better serve our owners in each market.
Construction Pipeline Trend Report from Lodging Econometrics (LE), the market with the largest hotel construction pipeline by projects is Dallas with a record high count of 176 projects, accounting for 20,790 rooms. Combined, these three companies account for 67% of the projects and 64% of the rooms in the total pipeline.
Construction Pipeline Trend Report by Lodging Econometrics (LE) sheds light on dynamic trends across key markets. Following closely is Atlanta, setting its own record with 151 projects/18,730 rooms. At the Q4 close, New York City continues to have the greatest number of projects under construction with 44 projects/7,338 rooms.
The New Zealand market is not without its challenges, and a unified approach to industry representation at government level could have a powerful impact, writes The Ascott Limited Managing Director – Australia, David Mansfield. Looking ahead, we have several exciting opportunities in the pipeline.
Bagley brings nearly 20 years of experience in the tourism and hospitality industry, spanning business development, product development, and B2B marketing. At Kelsian Group, he played a key role in tourism product development understanding customer needs and developing market-driven products.
With the Brisbane Games just eight years away, the upscale property meets a need for four- and five-star full-service hotels in the region and will support a growing domestic and international tourism market.
We look forward to working closely with Heritage Hotels and the local team to build on their stellar reputation with the continuation of a refurbishment programme across the portfolio,” Ritch said. TFE Hotels is set to establish a New Zealand Country Office in Auckland to support its growing presence in the market.
Serene Capital plans further investment in the hotel industry, with CEO and Co-founder, Glen Boutlwood, saying more acquisitions are in the pipeline. TFE Hotels is such an operator.” 2024 is going to be an exciting year for TFE Hotels as we continue to invest in technology and expand our portfolio both here and abroad,” Sedgwick said.
Brands are always looking for new ways to create leads and close sales. While one of the influencer marketing challenges is that the total audience size is smaller, the number that does see it is much more likely to engage with such content, giving your message more visibility.
ABM, Account Based Marketing, we’ve all heard about it. (If Here are 5 tactics you can use right now to close larger deals with Account Based Marketing and Sales Development. What if you could leverage your SME, marketing manager, engineer, or any other resource on your team in an active sales cycle? EverString.
“The addition of these hotels across our luxury and lifestyle portfolio is a meaningful contribution to IHG’s growth in Italy, which is a key market for us,” commented Eric Viale, Managing Director, Southern Europe, IHG Hotels & Resorts. Hotel Indigo Trieste is another piepline project, again partnering with Gruppo CHC.
The markets with the most projects currently under construction at the Q2 close are New York with 47 projects/8,201 rooms and Phoenix with 29 projects/6,064 rooms. LE recorded a combined renovation and conversion pipeline total of 1,939 projects with 253,473 rooms for the U.S. at the Q2 close. According to the U.S.
Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the second quarter, there were 6,095 projects with 713,151 rooms in the pipeline. At the close of the second quarter, there were 1,171 projects comprising 147,611 rooms under construction, […] The post Lodging Econometrics: U.S.
Localized in Southeast Asia, RevPAR levels are just below 2019 levels by less than 2%, driven by high average daily rates (ADRs) as the market saw a shift in consumers’ willingness to pay for quality both product and experience. Thailand’s well-established and diversified hospitality market also looks attractive.
The appointment coincides with a focus on luxury expansion for Marriott, particularly in the Asia Pacific, a region that accounts for a third of Marriott International’s luxury hotels and over half of Marriott’s global pipeline. How is the luxury hotel market evolving in Australia? What are guests demanding?
The brands current pipeline includes three under-construction hotels totalling over 600 rooms that are anticipated to open by mid-2026, with the prospect of significant additional growth across Marriotts global regions over the next decade. The closing of the transaction is subject to various customary conditions, including U.S.
These top five markets combined account for 732 projects/88,904 rooms. markets stand out for their active under-construction hotel projects. Dallas also tops the list of markets with the most hotel projects in the early planning stage at Q3, with 91 projects that will add 10,652 rooms. According to the Q3 2024 U.S.
All three hotels reside in prime real estate locations within urban, high barrier-to-entry markets with strong demand drivers, according to the company. Hotel ZaZa Austin Downtown is close to Austins Central Business District with its dense corporate presence and acclaimed dining, retail and live music venues.
Four ‘Have To’ Strategies for Closing Sales. Read Tonys article.recently published in Bank Insurance & Securities Marketing Magazine! close more sales (21). sales pipeline (1). Your pipeline. A robust pipeline gives you courage to ask for the decision. Tonys Top Ten. 7 More Sales Core Competencies.
Four ‘Have To’ Strategies for Closing Sales. Read Tonys article.recently published in Bank Insurance & Securities Marketing Magazine! close more sales (21). sales pipeline (1). What typically happens is that the pipeline gets depleted because the sales person has been closing business. Tonys Top Ten.
At closing of the transaction, Marriott will pay $355 million to acquire the brand and related intellectual property. Following closing, the citizenM portfolio will become part of Marriott’s system, with the hotels owned and leased by the seller subject to new long-term franchise agreements with Marriott. regulatory approval.
I look forward to working with Leanne and her leadership team to introduce our leading Luxury & Lifestyle brands to even more owners, guests and markets in the coming years.” Key signings from during her tenure include the InterContinental Sorrento Mornington Peninsula, Kimpton Margot Sydney, RIHGA Royal Hotel Osaka and Regent Kyoto.
Lodging Econometrics (LE) has released the Q1 hotel development data for the Charlotte market ahead of the Hospitality Industry Technology Exposition and Conference (HITEC). markets by project counts. Within the Charlotte market, at the close of the first quarter, hotels under construction stand at 11 projects/1,435 rooms.
has closed on the sale of the 316-room Hyatt Centric Fishermans Wharf located in San Francisco for $80 million, or $253,000 per key. Park Hotels & Resorts Inc. The sale price represents 64x 2024 EBITDA of the hotel. Proceeds from the sale will be used for ongoing ROI projects in Parks portfolio and for other general corporate purposes.
I was very quick to start working closely with our Accommodation Association manager in Victoria, and our AHA CEO in Victoria. We’re still working closely on some of these migration reforms, as international students still play a critical role in our industry. We’re working closely in the accessible space.
In the Q2 ‘23 Global Construction Pipeline Trend Report from Lodging Econometrics (LE), analysts state that the total global construction pipeline stands at 14,572 projects/2,310,238 rooms, up 3% year-over-year (YOY) by projects and 1% YOY by rooms. Across the globe, the top countries by project count are the U.S.,
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