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The Construction Pipeline stands at 245 projects/32,499 rooms, a slight decline from the cyclical peak in Q1 2008.
Pipeline Highlights at Q2
• The Construction Pipeline stands at 245 projects/32,499 rooms, a slight decline from the cyclical peak in Q1 2008.
• With 103 projects/17,181 rooms, the top 6 markets account for 42% of the total projects and 53% of all rooms in the Pipeline.
• 33% of Pipeline projects are already Under Construction and near certain to come online as New Supply.
• Nearly 80% of the projects in the Pipeline have already made branding decisions.
• Development is heaviest in Upscale, Midscale w/o Food & Beverage and Economy. The average project size is 133 rooms.
• LE has revised its Forecast for New Hotel Openings downward to a 3.4% gross growth rate in 2008 and 3.3% in 2009.
To view the entire LE Lodging Construction Report for Canada, including graphics and the Forecast for New Hotel Openings, please click here.
Lodging Econometrics (LE) of Portsmouth, NH is the global authority for hotel real estate. LE conducts Supply Side research for all markets, developers and brands and companies in: U.S., Canada, Mexico, Central America and the Caribbean, Europe, Asia, Middle East, South America, and Africa.
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