STR, STR Global Report June Hotel Pipeline Results for the Western Hemisphere

STR and STR Global reported pipeline results for the U.S., Canada, Caribbean/Mexico, and Central/South America. The active pipeline data includes projects in the in construction, final planning and planning stages but does not include projects in the pre-planning stage.

In the U.S., STR reported that the hotel development pipeline encompasses 2,724 projects totaling 327,293 rooms, according to the June 2013 STR Pipeline Report. This represents a 10.5 percent increase in the number of rooms in the active pipeline compared with June 2012 and a 28 percent increase in rooms under construction.

Among the Top 25 Markets, New York, New York, reported the largest number of rooms under construction with 11,143, which represents a 34.6 percent increase in rooms under construction when compares to June 2012. Three other markets reported more than 2,000 rooms under construction: Orlando (2,958 rooms), Washington (2,948 rooms; and Los Angeles-Long Beach (2,132 rooms).

Three markets reported more than 100 percent increases in room under construction in year-over-year comparisons: Anaheim-Santa Ana, Calif. (plus 402.7 percent with 935 rooms), Houston (plus 152.1 percent with 1,669 rooms) and Los Angeles-Long Beach (plus 149.4 percent with 2,132 rooms).

Canada’s hotel development pipeline features 207 projects totaling 22,886 rooms. It represents a 12.2 percent increase in the number of rooms in the total active pipeline compared with June 2012.

Among the chain scale segments, the upper upscale segment reported the largest increase in rooms in the total active pipeline rising 91.8 percent with 867 rooms. Two other segments posted double-digit increases in rooms in the active pipeline: the midscale segment (plus 51.1 percent with 662 rooms) and the upscale segment (plus 39.5 percent with 7,047 rooms). The luxury segment posted the largest decrease in rooms in the total active pipeline, falling 44.2 percent with 397 rooms.

Two markets experienced increases in rooms under construction: the upscale segment (plus 34.9 percent with 3,105 rooms) and the upper midscale segment (plus 15.6 percent with 1,875 rooms).

The Caribbean/Mexico hotel development pipeline comprises 131 hotels totaling 21,957 rooms. Mexico reported the most rooms under construction with 4,025 rooms. Five other countries reported more than 200 rooms under construction: Dominican Republic (2,475 rooms), Bahamas (2,271 rooms), Puerto Rico (709 rooms), Aruba (320 rooms) and Jamaica (238 rooms).

The Central/South America hotel development pipeline boasts 247 hotels totaling 39,537 rooms. Twenty hotels have opened in the region with 3,066 rooms from the same period last year.  Forty-seven hotels are expected to open with 6,791 rooms by year’s end. The upper midscale segment is projected to open the most rooms with 2,262 rooms in 15 hotels, followed by the upscale segment (1,707 rooms in 11 hotels) and the midscale segment (1,350 rooms in 11 hotels).

In 2014, 104 hotels are planned to open with 17,072 rooms. The most rooms are expected to open in the midscale segment (3,992 rooms in 32 hotels), the upscale segment (3,842 rooms in 23 hotels) and the upper midscale segment (2,845 rooms in 21 hotels).

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