Chicago, IL (PRWEB) August 19, 2013
BuildCentral, Inc., a leading hospitality research firm, reported on 97 new hotel construction projects in the pipeline during the month of July 2013.
Properties unaffiliated with a major brand reported the largest number of July 2013 pipeline reports with 54 percent, consistent with activity in Q1 and Q2. Budget and Economy segments made up almost 29 percent of active projects in the pipeline last month, with Mid-Range properties comprising about 15 percent.
Among the top 8 U.S. Regions, the Southeast reported the largest share of pipeline activity, rising to 24 percent in July. The Great Lakes states also reported high numbers, with 22% of all new hotel reports located within the region. The Rocky Mountain region again experienced low growth last month, falling from a 6 percent average in the first half of the year to 3 percent in July.
The Mid-Range segments saw the largest share of renovation projects in July 2013, at 33 percent, and Budget/Economy hotels followed Mid-Range in the market for July, as well as in Q1 and Q2. Capital improvements and renovations for Upscale/Luxury properties were largely the result of investment on behalf of new ownership teams, while Economy and Budget chains like Hilton’s Hampton Inn and Fairfield Inn by Marriott implemented chain-wide renovation plans in early- and mid-2013.
Comprehensive reports with contact information are available to view on HotelMarketData.com, a sales, competitive, and market analysis tool providing detailed information on hotels in development, as well as existing hotels.
Subscribers to HotelMarketData.com can access both Hotel Construction, a nationwide database of hotel construction projects, openings and key decision makers, and Hotel Profiles, a database of existing hotels with detailed information on each property. Comprehensive search features allow users to easily locate in-depth reports, sourced from a process that included thousands of interviews with decision-makers to ensure accuracy and provide exclusive insight.
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