In the just recently launched United States Construction Pipeline Trend Report from Lodging Econometrics(LE), experts detailed the leading franchise business and their brand names in the building and construction pipeline at the close of the very first quarter. Marriott topped the charts with the best variety of tasks in the U.S. hotel building pipeline in Q1 2023 with 1,499 jobs/181,377 spaces; followed by Hilton with a record-high count of 1,436 jobs/161,359 spaces; and after that IHG with 809 tasks/80,679 spaces. Integrated, these 3 franchise business made up 68 percent of the jobs in the overall U.S. pipeline.
Marriott likewise had the most tasks and space counts in each phase of the pipeline in Q1 2023 with 279 tasks/38,156 spaces presently under building; 763 jobs/90,038 spaces arranged to begin building and construction in the next 12 months; and 457 tasks/53,183 spaces in early preparation.
The leading brand names by job count for the 3 business with the biggest pipelines in the United States in Q1 2023 were Home2 Suites by Hilton with all-time highs by jobs and spaces of 546 jobs/56,001 spaces; Marriott’s TownePlace Suites, likewise reaching all-time highs by tasks and spaces in Q1 2023 with 333 jobs/31,068 spaces; and IHG’s Holiday Inn Express brand name with 301 tasks/28,371 spaces. These 3 brand names jointly represent 21 percent of the jobs in the overall U.S. hotel building pipeline at the close of Q1 2023.
LE taped record-high conversion pipeline overalls of 1,079 jobs/110,084 spaces for the United States in the very first quarter of2023 Of these conversion overalls, Hilton had one of the most conversion jobs and space overalls ever tape-recorded by LE with 105 jobs/14,456 spaces. Marriott had a record 100 conversion tasks, accounting for 13,465 spaces, and IHG had 52 conversion projects/6,2543 spaces. These 3 franchise business represent 31 percent of all the spaces in the conversion pipeline throughout the nation.
The franchise business with the best variety of brand-new task statements in the very first quarter were: Hilton with 110 jobs/11,790 spaces; Marriott with 61 projects/6,730 spaces; and IHG with 33 projects/3,103 spaces. These business represent 60 percent of all brand-new tasks revealed in the United States in Q1 2023.
In Q1 2023, Marriott opened 33 brand-new hotels with 3,711 spaces. Hilton opened 24 brand-new hotels with 2,781 spaces, and IHG opened 6 brand-new hotels with 629 spaces. The LE projection for brand-new hotel openings in 2023 prepares for that Marriott will open an overall of 152 brand-new hotel jobs/19,064 spaces by year-end; Hilton is anticipated to open 141 brand-new hotel tasks/16,980 spaces in 2023; and IHG is anticipated to open 88 brand-new hotel projects/9,975 spaces. These 3 franchise business jointly represent 64 percent and 65 percent, respectively, of brand-new hotel tasks and spaces anticipate to open in 2023.
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