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Together, the United States and China account for 63 percent
of the second-quarter global construction pipeline, with U.S. markets Dallas
and Atlanta representing the largest number of projects, according to a new
report from Lodging Econometrics.
In Q2, the U.S. leads the global construction pipeline with 38
percent of the total project count at 5,572 projects and 660,061 rooms,
according to the report. China follows at 25 percent of the global construction
pipeline with 3,666 projects and 678,965 rooms—about 2.8 percent higher than
the U.S. room count in the second quarter. Trailing further behind is India
with 480 projects and 57,161 rooms, according to the report.
More specifically, U.S. cities with the highest total
pipeline in the second quarter include
Dallas with 184 projects and 21,501 rooms, Atlanta with 141 projects and
17,993 rooms and Phoenix with 119 projects and 16,107 rooms.
China’s pipeline includes larger hotels. Its strongest markets
are Chengdu with 140 projects/27,890 rooms and Shanghai with 117
projects/22,887 rooms.
Of the 11 markets with more than 100 projects in their total
pipelines, seven are located in the U.S., three are in China, and one is in
Saudi Arabia.
Alongside its strong pipeline, however, Phoenix represented
one of the lowest occupancy markets among research firm STR’s
Top 25 markets in the U.S. in July at 58.9 percent. Among those markets,
Phoenix has been one of the lowest performing cities for occupancy since
June. How performance will fare with an influx of additional volume remains
to be seen.
According to Lodging Econometrics’ report, three hotel
companies lead the global construction pipeline with “record-high project
counts” in Q2, including Hilton Worldwide, Marriott International and
InterContinental Hotels Group—all totaling 50 percent of the global
construction pipeline.
In terms of projects in Q2, Hilton leads with 2,808 projects
and 398,742 rooms, according to the report, with Marriott close behind at 2,679
projects and 429,925 rooms. IHG follows with 1,764 projects and 259,668 rooms
in the global construction pipeline, according to the report.
Within the global market, Lodging Econometrics reported luxury,
upper upscale and the upper midscale chains—segments that appeal to business
travel—”dominate” the second quarter, accounting for 47 percent of
projects in the global construction pipeline.
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