STR, STR Global Release Hotel Pipeline Report for Seven Regions

STR and STR Global released March hotel pipeline reports for the U.S., Canada, Caribbean/Mexico, Central/South America, Europe, Asia/Pacific and Middle East/Africa. The total active pipeline data includes projects in the in construction, final planning and planning stages, but does not include projects in the pre-planning stage.

The total active U.S. hotel development pipeline comprises 2,717 projects totaling 320,750 rooms, according to STR. This represents a 9.2 percent increase in the number of rooms in the total active pipeline compared with March 2012 and a 19.3 percent increase in rooms under construction.

Among the top 25 markets, New York reported the largest number of rooms under construction with 10,247, which represents a 34.4 percent increase in rooms under construction compared with March 2012. Three other markets reported more than 2,000 in the In Construction phase: Washington, D.C. (3,069 rooms); Orlando, Florida (2,956 rooms); and Chicago, Illinois (2,694 rooms).

Los Angeles-Long Beach reported the largest year-over-year increase in rooms under construction, rising 533.4 percent with 1,932, followed by Detroit, Michigan (plus 524.3 percent with 718 rooms), and Anaheim-Santa Ana, California (plus 417.7 percent with 730 rooms).

Canada’s hotel development pipeline comprises 203 projects totaling 22,845 rooms, according to STR. This represents a 15.4 percent increase in the number of rooms in the total active pipeline compared with March 2012.

Among the chain scale segments, the upper upscale segment reported the largest increase in rooms in the total active pipeline, rising 244percent with 867 rooms. Three other segments reported increases in rooms in the total active pipeline: the upscale segment (plus 61.4 percent with 7,856 rooms); the midscale segment (plus 30.0 percent with 472 rooms); and the upper midscale segment (plus 5.6 percent with 6,070 rooms). The upscale segment (plus 97.1 percent with 3,558 rooms) and the upper midscale segment (plus 52.7 percent with 2,368 rooms) were the only segments to report increases in the number of rooms under construction.

The Caribbean/Mexico hotel development pipeline comprises 118 hotels totaling 20,015 rooms, according to STR. Among the region’s countries, Haiti reported the largest expected room-supply growth (plus 58.2 percent) if all 560 rooms in the country’s total active pipeline open. Six other countries reported expected room-supply growth of more than 10 percent: Anguilla (plus 31.3 percent with 220 rooms); Turks & Caicos (plus 26.3 percent with 747 rooms); St. Kitts/Nevis (plus 19.6 percent with 310 rooms); Bahamas (plus 17.7 percent with 2,468 rooms); Dominica (plus 15.8 percent with 100 rooms); and Aruba (plus 10.3 percent with 630 rooms)

The Central/South America hotel development pipeline comprises 235 hotels totaling 36,349 rooms, according to the March 2013 STR Global Construction Pipeline Report. Among the region’s countries, Brazil reported the most rooms in the in construction phase with 6,131 rooms. Six other countries reported more than 500 rooms under construction: Panama (2,568 rooms), Argentina (1,568 rooms), Colombia (1,468 rooms), Uruguay (701 rooms), Chile (698 rooms) and Costa Rica (527 rooms).

The Europe hotel development pipeline comprises 818 hotels totaling 135,115 rooms, according to STR Global. Among the key markets in the region, Manchester, United Kingdom, reported the largest expected room growth (plus 22.7 percent) if all 3,061 rooms in the market’s total active pipeline open. Four other markets reported significant expected room growth: Birmingham, U.K. (plus 17.5 percent with 1,702 rooms); Istanbul, Turkey (plus 14.9 percent with 5,447 rooms); London (plus 14.1 percent with 16,392 rooms); and Moscow (plus 12.7 percent with 4,697 rooms).

The Asia/Pacific hotel development pipeline comprises 1,788 hotels totaling 385,043 rooms, according to STR Global. Among the countries in the region, the Philippines, reported the largest expected supply growth (plus 35.7 percent) if all 14,048 rooms in the country’s total active pipeline open. Six other markets reported expected room growth of more than 10 percent: India (plus 29.0 percent with 54,478 rooms in the active pipeline); Indonesia (plus 24.2 percent with 30,942 rooms); Vietnam (plus 18.7 percent with 8,500 rooms); China (plus 13.9 percent with 211,118 rooms); Malaysia (plus 12.9 percent with 14,245 rooms); and Cambodia (plus 12.3 percent with 1,755 rooms).

The Middle East/Africa hotel development pipeline comprises 483 hotels totaling 118,713 rooms, according to STR Global. From year to date in March, 11 hotels opened in the region with 1,683 rooms. In the remainder of 2013, 133 more hotels are expected to open with 34,931 rooms. The unaffiliated segment is expected to open the most rooms with 11,557 rooms in 39 hotels. Three other segments are expected to open more than 5,000 more rooms in 2013: the upper upscale segment (6,950 rooms), the luxury segment (6,855 rooms) and the upscale segment (6,639 rooms).

In 2014, 141 hotels are expected to open with 30,924 rooms. The most rooms are expected to open in the upper upscale segment (11,269 rooms in 38 hotels), followed by the luxury segment (6,186 rooms in 28 hotels) and the upscale segment (5,909 rooms in 30 hotels).

Source: Travel Pulse, http://www.travelpulse.com/str-str-global-release-hotel-pipeline-report-for-seven-regions.html