The hotel industry forecast is positive going into 2018 with projects up 9 percent in comparison to last year, according to Lodging Econometrics. “New supply growth in the U.S. is up 2.5 percent; Asia Pacific will have record openings; the Middle East has seen impressive pipeline growth year over year; and all the announcements in China over the last five years are beginning to open,” says the firm’s senior vice president of global business development Bruce Ford. “Openings will be larger in 2018 than 2017 in every region.” China and the U.S. collectively make up 60 percent of the global pipeline (with Guangzhou and New York leading the way), but Dubai and Seoul remain top cities to keep an eye on. Despite economic uncertainty, tumultuous geopolitics, and natural disasters, upscale and upper midscale segments continue to lead the market in an effort to offer a more authentic travel experience for today’s discerning guests.
