Looking ahead to pipeline expectations for 2019, Lodging Econometrics reports the United States and China will continue to be powerhouses globally, while Germany surprises as it becomes a new frontier for select-service development. Indonesia is a shining star in Southeast Asia as most franchise companies want to be there with a high percentage of their opportunity being in full-service hotels.
According to Lodging Econometrics’ most recent Global Hotel Construction Pipeline Trend Report, the top countries with the most rooms forecasted to open in 2019 are as follows: the United States with 1,102 projects/126,692 rooms and China with 661 projects/123,644 rooms. A far distance from these two countries: Germany with 68 projects/12,360 rooms; Indonesia with 70 projects/11,283 rooms and the United Kingdom with 76 projects/10,860 rooms.
(Contributed by Lodging Econometrics)
In the same report by LE, the top cities with the most rooms forecasted to open in 2019 are: New York City with 59 projects/8,964 rooms; Dubai with 31 projects/7,734 rooms; Shanghai with 29 projects/5,764 rooms; Tokyo with 32 projects/5,524 rooms and Hong Kong with 14 projects/4,876 rooms.
“Most notably, Dubai has more rooms than any other city in the Middle East and Europe,” said Bruce Ford, senior vice president and director of Global Business Development for Lodging Econometrics. “This is a return to dominance the city has not seen in the last 10 years. Also, global events seemingly are still driving regional construction as seen by prior Olympic and World Cup cities. With the 2020 Summer Olympic games approaching, Tokyo is seeing a surge in hotel construction as developers are rushing to finish their projects prior to the games.”