In the recently released quarterly United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines at the end of the second quarter of 2020 are Marriott International with 1,487 projects/195,952 rooms, followed by Hilton Worldwide with 1,395 projects/160,078 rooms, and InterContinental Hotels Group (IHG) with 920 projects/94,499 rooms. Combined these three companies account for 68% of the projects in the total pipeline; roughly the same percentage as the Q1’20 close.
Hilton’s Home2 Suites and IHG’s Holiday Inn Express continue to be the most prominent brands in the U.S. pipeline with 415 projects/43,336 rooms and 371 projects/35,539 rooms, respectively. Hampton by Hilton follows with 304 projects/31,365 rooms and then Marriott’s Fairfield Inn with 302 projects/29,251 rooms. These four brands combined represent an impressive 25% of the projects in the total pipeline.
Other notable brands in the pipeline for each of these franchise companies are Tru by Hilton with 298 projects/28,863 rooms; Marriott’s Residence Inn with 208 projects/25,520 rooms, SpringHill Suites with 184 projects/20,842 rooms, and TownePlace Suites with 207 projects/20,802 rooms; and then IHG’s Avid Hotel with 189 projects/17,090 rooms.
In the second quarter of 2020, LE recorded 580 conversion projects/66,852 rooms. Of these conversion totals, Best Western dominates with 150 conversion projects/13,482 rooms, alone claiming 25% of the conversion pipeline by projects. Following Best Western is Marriott with 79 projects/13,721 rooms, Hilton has 69 projects/11,279 rooms, and IHG recorded 50 projects/5,382 rooms. Best Western and these three franchise companies combined account for 66% of all the rooms in the conversion pipeline across the United States.
In the first half of 2020, 313 new hotels with 36,992 rooms opened across the United States. Of those openings, Marriott, Hilton and IHG collectively opened 69% of the hotels. Marriott opened 90 hotels 11,036 rooms, Hilton opened 82 hotels/8,728 rooms, and IHG opened 44 hotels/4,190 rooms.
Related Stories
Market Data | Jun 21, 2018
Architecture firm billings strengthen in May
Architecture Billings Index enters eighth straight month of solid growth.
Market Data | Jun 20, 2018
7% year-over-year growth in the global construction pipeline
There are 5,952 projects/1,115,288 rooms under construction, up 8% by projects YOY.
Market Data | Jun 19, 2018
ABC’s Construction Backlog Indicator remains elevated in first quarter of 2018
The CBI shows highlights by region, industry, and company size.
Market Data | Jun 19, 2018
America’s housing market still falls short of providing affordable shelter to many
The latest report from the Joint Center for Housing Studies laments the paucity of subsidies to relieve cost burdens of ownership and renting.
Market Data | Jun 18, 2018
AI is the path to maximum profitability for retail and FMCG firms
Leading retailers including Amazon, Alibaba, Lowe’s and Tesco are developing their own AI solutions for automation, analytics and robotics use cases.
Market Data | Jun 12, 2018
Yardi Matrix report details industrial sector's strength
E-commerce and biopharmaceutical companies seeking space stoke record performances across key indicators.
Market Data | Jun 8, 2018
Dodge Momentum Index inches up in May
May’s gain was the result of a 4.7% increase by the commercial component of the Momentum Index.
Market Data | Jun 4, 2018
Nonresidential construction remains unchanged in April
Private sector spending increased 0.8% on a monthly basis and is up 5.3% from a year ago.
Market Data | May 30, 2018
Construction employment increases in 256 metro areas between April 2017 & 2018
Dallas-Plano-Irving and Midland, Texas experience largest year-over-year gains; St. Louis, Mo.-Ill. and Bloomington, Ill. have biggest annual declines in construction employment amid continuing demand.
Market Data | May 29, 2018
America’s fastest-growing cities: San Antonio, Phoenix lead population growth
San Antonio added 24,208 people between July 2016 and July 2017, according to U.S. Census Bureau data.
