The Construction Pipeline peaked in Q1 2008 and now stands at 231 projects/29,517 rooms, the lowest level in seven quarters.
• Projects Under Construction peaked in Q2 2007, followed by five consecutive quarters of decline. Today, 36% of the Total Pipeline projects are Under Construction.
• At 83 projects/10,426 rooms, Scheduled Starts in the Next 12 Months are down 11% Quarter over Quarter (QoQ). Early Planning totals declined 15% to 65 projects/8,094 rooms. Both are reflective of projects stalled in the Pipeline due to a slowing economy and a difficult financing environment.
• Within the Pipeline, Ontario, Alberta and British Columbia account for 75% of all projects under development.
• 101 projects/16,645 rooms, some 56% of the Total Pipeline Rooms, are located in just 6 cities: Toronto, Niagara Falls, Vancouver, Edmonton, Montreal, and Calgary.
To view the full LE Canada Executive Summary, please click here.
Lodging Econometrics (LE) of Portsmouth, NH is the global authority for hotel real estate. LE conducts Supply Side research for all markets, developers and brands and companies in: U.S., Canada, Mexico, Central America and the Caribbean, Europe, Asia, Middle East, South America, and Africa.
