Analysts at Lodging Econometrics report that at the end of the first half of 2019, Chinas total construction pipeline swelled to 2,991 projects/592,884 rooms, up 19% by projects and 7% by rooms year-over-year (YOY), both at all-time highs, amidst an economic slowdown. The China growth rate is expected to be 6.2% for 2019, the lowest reported since 1990.
The Asia/Pacific region reported 470,650 hotel rooms in construction as of July 2019, which is a 27% year-over-year increase.
Despite the total commercial real estate investment in Europe declining 7.8% year-on-year in the twelve months to Q2 2019, hotel investment saw an increase of 5.3% over the same period, totaling 24.3bn, according to the latest data from global real estate advisor, CBRE.
Analysts at Lodging Econometrics (LE) report that at the close of the second quarter of 2019, the total construction pipeline in Canada hit an all-time high with 273 projects/35,787 rooms. Construction pipeline projects are up 14% and rooms are up a lofty 20% year-over-year (YOY).