Per the third-quarter report by Lodging Econometrics (LE), the franchise companies with the newest construction projects in the United States are Marriott International (1,286 projects/166,174 rooms), Hilton Worldwide (1,223 projects/ 139,742 rooms), and InterContinental Hotels Group (IHG) (769 projects/77,558 rooms).
These three franchise businesses’ construction pipelines account for an astonishing 68% of the overall construction pipeline projects.
Hilton’s Home2 Suites by Hilton has 402 projects/41,846 rooms in the construction pipeline, IHG’s Holiday Inn Express has 301 private projects/28,852 rooms, and Marriott’s Fairfield Inn has 246 projects/23,653 rooms. These three mid-market brands account for 20% of all contracts in the building pipeline.
Other significant brands in the pipeline for this franchise include Hilton’s Hampton by Hilton, which is nearing a cyclical peak with 271 projects/28,311 rooms, and Tru by Hilton, which has 224 projects/21,518 rooms; Marriott’s TownePlace Suites, which has 204 projects/ 19,5693 rooms and Residence Inn, which has 203 projects/25,132 rooms; and IHG’s Avid Hotel, which has 152 projects/13,255 rooms and Staybridge Suites with 122 projects/12,564 rooms.
Marriott launched 60 new hotels/7,882 rooms in the third quarter alone, accounting for 30% of all new hotel rooms that debuted in the United States. Hilton launched 45 new hotels in Q3 with 4,923 rooms, accounting for 19% of newly opened rooms, while IHG opened 25 new hotels with 2,459 rooms, accounting for 9% of rooms.
Year to date, through the end of the third quarter in 2021, Marriott has opened 212 new hotels/28,298 rooms, accounting for 32% of new hotels and 33% of new rooms; Hilton has opened 169 new hotels/21,786 rooms, accounting for 25% of new hotels and 26% of newly opened rooms; and IHG has opened 98 new hotels/9,828 rooms, accounting for 15% of new hotels and 12% of rooms in the United States.
Marriott is expected to launch 243 projects/ 32,944 rooms by year’s end, according to the LE prediction for new hotel opening in 2021. In 2021, Hilton expects to construct 207 projects with a total of 26,056 rooms, while IHG expects to open 145 projects with a total of 14,451 rooms.
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