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LE's Construction Pipeline Overview at Mid-Year 2008 |
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The Total Global Construction Pipeline stands at a record high of 10,781 projects and 1,819,486 rooms. It's an astonishing 28% year-over-year (YoY) increase. |
At the time of publication, a fall-off from these record Pipeline Totals has already started to occur as the credit crisis and economic slowdown have begun to affect developer sentiment. For projects already in the Pipeline, Cancellations and Postponements are on the rise. New Project Announcements into the Pipeline are slowing.
Seeded earlier in the decade, a notably high 4,468 projects, 41% of the Total Pipeline, are already Under Construction. The associated room count is 836,567 or 46% of the Pipeline. These are sure indicators that the Forecast for New Hotel Openings is set to accelerate over the next two and a half years.
To view the full LE Global Executive Summary, please click here.
Lodging Econometrics (LE) of Portsmouth, NH is the global authority for hotel real estate. LE conducts Supply Side research for all markets, developers and brands and companies in: U.S., Canada, Mexico, Central America and the Caribbean, Europe, Asia, Middle East, South America, and Africa.
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