Garry Vermaas, PhD, PE’s Post

US hotel construction pipeline rises 7%. According to a new report, upper-midscale and extended stay projects dominate as lodging projects hit record highs in cities like Dallas and Atlanta. Read on. #hotelconstruction #hotels #hospitality

US hotel construction pipeline rises 7%. According to a new report, upper-midscale and extended stay projects dominate as lodging projects hit record highs in cities like Dallas and Atlanta. Read on. #hotelconstruction #hotels #hospitality

The global hotel construction industry experienced a boom in the fourth quarter of 2023, reaching record levels for the number of projects in the pipeline. Interestingly, the 𝗨𝗻𝗶𝘁𝗲𝗱 𝗦𝘁𝗮𝘁𝗲𝘀 𝗲𝗺𝗲𝗿𝗴𝗲𝗱 𝗮𝘀 𝘁𝗵𝗲 𝗰𝗹𝗲𝗮𝗿 𝗹𝗲𝗮𝗱𝗲𝗿, boasting the highest number of projects compared to any other country. This trend was further amplified within the US itself, with 𝗰𝗶𝘁𝗶𝗲𝘀 𝗹𝗶𝗸𝗲 𝗗𝗮𝗹𝗹𝗮𝘀 𝗮𝗻𝗱 𝗔𝘁𝗹𝗮𝗻𝘁𝗮 𝘁𝗮𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝘁𝗼𝗽 𝘀𝗽𝗼𝘁𝘀 for the most active hotel construction globally. This surge in hotel development suggests a potential increase in hotel room availability and potential changes in the hospitality landscape in the coming years. #Construction #Hospitality #BuildingGreatTeamsTogether

Some insights into new hotel construction and forecast for 2024. #construction #hotelconstruction

Don't let hotel construction setbacks derail your progress! 🚧 Today we are outlining strategies for managing construction delays in hotel development projects, emphasizing the importance of planning, communication, and flexibility to minimize financial and operational impacts. From planning to execution, we've got you covered. Dive in to learn more! #ConstructionDelays #HotelDevelopment #HotelDesign

As seen in the Q2 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the second quarter, there are 6,095 projects with 713,151 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and an 8% YOY increase in rooms compared to Q2 2023 totals. https://lnkd.in/gFQjzT_V

Historic conversions are my personal favorite. The history, the challenge, the solutions, and after product...nothing else beats these projects for me. What are your favorite projects? #hotels #historic #historicbuildings #historicconstruction #savinghistory #womeninconstruction

📣 Information of interest 🗣 Lodging Econometrics (LE) reported that at the close of Q1 2024, the hotel construction pipeline in Europe comprises 1,705 projects and 253,777 rooms, with 45% of the projects (762 projects and 117,815 rooms) currently under construction. Projects in the upper upscale and upscale categories have increased by 13% and 5% respectively. The United Kingdom leads with 321 projects and 45,257 rooms, followed by Germany, France, Portugal, and Turkey. A total of 45 new hotels with 5,961 rooms opened in Q1, and 326 new hotels with 45,090 rooms are expected to open by year-end. Source: https://lnkd.in/djmwbvGE #Hotels #Europe #Hospitality #Projects

Europe’s Hotel Construction Pipeline Shows Slight Year-Over-Year Increases in Project Counts at Q3 2023 https://loom.ly/WivaV7o #hotelconstruction #europe #hospitality #hospitalitypodcast #hotel #investing #hoteldesign #travel #hospitalityindustry #hospitalitymanagement #hospitalitymarketing #hoteliers #hospitalitystrong #hospitalitylife #hospitalitybusiness #hotelindustry #hotelsandresorts #hotellife #hospitalitynews #novacancynews

𝐓𝐡𝐞 𝐔.𝐒. 𝐡𝐨𝐭𝐞𝐥 𝐜𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐩𝐢𝐩𝐞𝐥𝐢𝐧𝐞 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐢𝐭𝐬 𝐮𝐩𝐰𝐚𝐫𝐝 𝐭𝐫𝐞𝐧𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐞𝐜𝐨𝐧𝐝 𝐪𝐮𝐚𝐫𝐭𝐞𝐫 𝐨𝐟 𝟐𝟎𝟐𝟒, 𝐫𝐞𝐚𝐜𝐡𝐢𝐧𝐠 𝐚 𝐧𝐞𝐰 𝐫𝐞𝐜𝐨𝐫𝐝 𝐡𝐢𝐠𝐡. ⬇️ According to Lodging Econometrics, there were 6,095 hotel projects in the pipeline at the end of the quarter, representing a total of 713,151 rooms. This marks an 8% increase in rooms and a 9% increase in projects compared to the same period last year. While the quarter-over-quarter growth was modest at 0.5%, the year-over-year data reveals a robust pipeline. The number of hotels currently under construction climbed 10% compared to the previous year, and projects set to begin construction within the next 12 months rose by 5%. Additionally, early-stage planning for new hotels increased by 13% year-over-year. 𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐟𝐮𝐥𝐥 𝐚𝐫𝐭𝐢𝐜𝐥𝐞 𝐡𝐞𝐫𝐞: https://lnkd.in/eqdPk5qN #BuildingGreatTeamsTogether