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Hotel Pipeline Reaches Almost 2M Rooms

Tighter credit and the slowdown could lead to a leveling off of development in 2010, Lodging Econometrics says.

By Carl Cronan | Updated on November 13, 2008

A record 1.8 million hotel rooms in 10,781 projects are in the global construction pipeline through the first half of 2008, according to a first-time comprehensive count by Portsmouth, NH-based Lodging Econometrics. The report further states that 41% of total pipeline projects and 46% of total rooms are already under construction, likely causing new hotel openings to accelerate in the next two years.

Rapid growth in hotel development has been spurred by a broad range of factors, from the rise of globalization and interconnectedness of economies and markets, to unprecedented availability of capital, migration of people from rural communities to urban centers and an explosion of travel and tourism, Lodging Econometrics states. “Combined, this has resulted in the greatest real estate construction and infrastructure boom in history,” says Patrick Ford, the firm’s president.

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