Business & Finance

New York Has the Most New Hotel Openings Forecasted for 2017 & Marriott Has Largest Construction Pipeline

PORTSMOUTH, NH. May 18, 2017 – Analysts at Lodging Econometrics (LE) report that the five markets with the largest hotel construction pipelines by project count are: New York with 185 Projects/29,447 Rooms; Houston with 158 Projects/17,475 Rooms; Dallas with 141 Projects/17,869 Rooms; Nashville with 124 Projects/15,614 Rooms; and Los Angeles with 111 Projects/17,701 Rooms.

New York has the most New Hotel Openings forecasted for 2017 of any market with 47 Hotels/7,534 Rooms. Then Dallas, which is forecasted to open 44 Hotels/5,050 Rooms, Houston with 33 Hotels/3,505 Rooms, Austin with 21 Hotels/2,321 Rooms and Los Angeles with 20 Hotels/4,202 Rooms.

The markets with the most New Project Announcements into the Pipeline in the first quarter were: Dallas with 18 Projects/2,282 Rooms, New York with 16 Projects/2,510 Rooms, Orlando with 14 Projects/1,837 Rooms, Tampa with 13 Projects/1,313 Rooms and Kansas City with 11 Projects/1,288 Rooms.

Marriott International currently has the largest and most active pipeline by room-count of any franchise company with 163,063 Rooms/1,264 Projects. Their largest brands in the Pipeline are; Fairfield Inn with 27,220 Rooms/285 Projects, Residence Inn with 23,725 Rooms/188 Projects and TownePlace Suites with 18,450 Rooms/180 Projects.

Marriott also has the most rooms currently Under Construction with 65,924 Rooms/487 Projects, which represents over 1/3 of all Pipeline rooms Under Construction. Additionally, they have the most rooms Scheduled to Start Construction in the Next 12 Months with 78,404 Rooms/637 Projects. And in Early Planning, Marriott has 17,117 Rooms/140 Projects.

In the first quarter, Marriott opened 64 new hotels with 7,187 rooms, just under 30% of all new rooms opened in Q117. The brands with the largest number of new hotels opened are Fairfield Inn with 1,499 Rooms/16 Hotels and Courtyard with 1,411 Rooms/13 Hotels.

About Lodging Econometrics

Lodging Econometrics (LE) is the lodging industry’s leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients’ business goals into timely opportunities.

Contact:
Emily Dennison
edennison@lodgingeconometrics.com
+1 603.427.9544

Coming Up In The June Online Hotel Business Review




{300x250.media}
Feature Focus
Sales & Marketing: Who Owns the Guest?
Hotels and OTAs are, by necessity, joined at the hip and locked in a symbiotic relationship that is uneasy at best. Hotels require the marketing presence that OTAs offer and of course, OTAs guest’s email when it sends guest information to a hotel, effectively allowing OTAs to maintain “ownership” of the guest. Without ready access to guest need hotel product to offer their online customers. But recently, several OTAs have decided to no longer share a data, hotels are severely constrained from marketing directly to a guest which allows them to capture repeat business – the lowest cost and highest value travelers. Hotels also require this data to effectively market to previous guests, so ownership of this data will be a significant factor as hotels and OTAs move forward. Another issue is the increasing shift to mobile travel bookings. Mobile will account for more than half of all online travel bookings next year, and 78.6% of them will use their smartphone to make those reservations. As a result, hotels must have a robust mobile marketing plan in place, which means responsive design, one-click booking, and location technology. Another important mobile marketing element is a “Click-to-Call” feature. According to a recent Google survey, 68% of hotel guests report that it is extremely/very important to be able to call a hotel during the purchase phase, and 58% are very likely to call a hotel if the capability is available in a smartphone search. The June Hotel Business Review will report on some of these issues and strategies, and examine how some sales and marketing professionals are integrating them into their operations.