The latest Global Construction Pipeline Trend Report from Lodging Econometrics (LE) indicates that the total global pipeline closed the first quarter of 2017 with 11,904 projects and nearly 2 million guestrooms. The data demonstrates a 6 percent increase in projects year-over-year (YOY).
There are currently 1 million guestrooms and 5,496 projects—a 4-percent leap YOY—under construction. Showing a 17 percent increase YOY, 3,753 projects and 532,814 guestrooms are scheduled to start in the next 12 months. Projects in early planning showed a 2 percent drop with 2,655 projects and 432,398 guestrooms.
Marriott International is the leading franchise company in the Global Construction Pipeline with 2,159 projects and 363,672 guestrooms across the globe. Hilton Worldwide maintains second place with 1,993 projects and 300,524 guestrooms, while InterContinental Hotels Group manages 1,336 projects and 204,991 guestrooms and Choice Hotels holds a portfolio of 561 projects and 47,155 guestrooms.
The U.S. holds the top spot in roomcount around the world with a portfolio 5,032 projects and 602,034 guestrooms, with China following with 2,441 projects and 534,285 guestrooms. The U.S. accounts for 30 percent of international roomcount, while China operates 27 percent, resulting in 57 percent of the global pipeling being concentrated in just two countries.
Cities with the largest pipeline include Dubai with 125 projects and 35,882 guestrooms; New York with 185 projects and 29,447 guestrooms; Seoul with 148 projects and 27,084 guestrooms; Shanghai with 133 projects and 25,406 guestrooms; and Guangzhou with 22,727 guestrooms.
