Report: Europe's Hotel Pipeline

 

Lodging Econometrics (LE), trackers of global hotel-build trends, says that Europe will see 949 projects and 163,919 guest rooms under construction in 2008. Flagship brands from the major global companies populate the “Construction Pipeline,” including Hilton Hotels; InterContinental and Crowne Plaza from IHG; Radisson SAS; Starwood’s W and Sheraton; Marriott and Renaissance. Of equal significance are their mid-market hotels: Hilton Garden Inn, Doubletree and Hampton Inns from the Hilton Family; Holiday Inn and Express by Holiday Inn from IHG; Rezidor’s Park Inn andMarriott’s Courtyard. Hotel occupancies in Europe are in the high 60’s and 70’s, at or near peak levels in many urbancenters and resort destinations. Despite this growth, however, the weakening economy is beginning toimpact the lodging industry. Operating statistics first began to show weakness in November and December and again in January. As a result, it’s expected that by mid-2008, thenumber of new projects might decline.