Wednesday, August 30, 2023
North America

Global Hotel Construction Sees Upscale Domination in Q2 ’23 With Hilton and Marriott Leading

  • Q2 ’23 saw 14,572 global hotel projects. Luxury and upscale chains dominate, led by Hilton, Marriott, and IHG.
  • Urban hotels lag in post-pandemic recovery compared to resorts and suburban counterparts, with rate management playing a vital role.
  • Notable new hotels, rebranding, and appointments are taking place, with Hilton, Riu Caribe, Choice Hotels, and Sonder making moves. London’s Broadwick Soho hotel is set to open with unique additions.

The DJIA was up 38 points, the Nasdaq was up 76, the S&P 500 was up 17 points, and the 10-year treasury yield was unchanged at 4.12%. Lodging stocks were modestly lower on the day. In the Q2 ’23 Global Construction Pipeline Trend Report from Lodging Econometrics, analysts state that the global construction pipeline is 14,572 projects/2,310,238. Worldwide, at the close of […]