According to the quarterly United States Construction Pipeline Trend Report from Lodging Econometrics (LE), the franchise companies with the largest construction pipelines at the end of Q3 2022 are led by Marriott International with 1,385 projects/168,725 rooms. Following Marriott is Hilton Worldwide with 1,351 projects/152,383 rooms, and InterContinental Hotels Group (IHG) with 787 projects/79,382 rooms.
Combined, these three companies account for 66% of the projects and 64% of the rooms in the total pipeline. Each company has seen growth year-over-year.
These three franchise companies also have the most projects and rooms in each stage of the construction pipeline. Marriott leads with the greatest number of projects in the under construction stage with 259 projects/35,946 rooms, then Hilton with 248 projects/31,698 rooms, and IHG with 135 projects/15,688 rooms currently under construction.
At the close of the third quarter, Marriott also leads with the most projects scheduled to start construction in the next 12 months with 739 projects/87,626 rooms, followed by IHG with 484 projects/46,957 rooms, and Hilton with 333 projects/38,043 rooms.
Hilton set record high project and rooms counts in the early planning stage at the Q3 close, totaling 770 projects/82,642 rooms. Marriott currently has 387 projects/45,153 rooms in early planning and IHG closed the quarter with 168 projects/16,737 rooms in the early planning stage.
Hotel construction by brand
The brands of each of these companies with the largest number of projects in the pipeline at Q3 are Hilton’s Home2 Suites with 494 projects/50,809 rooms; IHG’s Holiday Inn Express with 297 projects/28,323; and Marriott’s TownePlace Suites with 291 projects/27,329 rooms. Other prominent brands in the pipeline for these franchise companies are the Hampton by Hilton brands with 281 projects/28,543 rooms; Marriott’s Fairfield Inn with 238 projects/21,988 rooms; and IHG’s Avid Hotel brand with 135 projects/11,445 rooms.
Through the end of the third quarter, Marriott opened 102 new hotels/12,908 rooms. Hilton opened 90 new hotels/10,834 rooms, and IHG opened 40 projects/4,120 rooms.
ALSO SEE: Top 115 Hotel Sector Architecture and AE Firms for 2022
LE analysts forecast Marriott will open the most new hotels in 2023 with 168 hotels/20,952 rooms. Next is Hilton with 136 new hotels/17,049 rooms, followed by IHG with 89 new hotels/9,588 rooms. In 2024, LE forecasts that Marriott will open 192 new hotels/22,815 rooms. Hilton is expected to open 154 new hotels/16,967 rooms and IHG is expected to open 142 new hotels/14,596 rooms.
Related Stories
| Sep 4, 2013
Smart building technology: Talking results at the BUILDINGChicago/ Greening the Heartland show
Recent advancements in technology are allowing owners to connect with facilities as never before, leveraging existing automation systems to achieve cost-effective energy improvements. This BUILDINGChicago presentation will feature Procter & Gamble’s smart building management program.
| Aug 30, 2013
A new approach to post-occupancy evaluations
As a growing number of healthcare institutions become more customer-focused, post-occupancy evaluations (POE) are playing a bigger role in new construction and renovation projects. Advocate Health Care is among the healthcare organizations to institute a detailed post-occupancy assessment process for its projects.
| Aug 26, 2013
What you missed last week: Architecture billings up again; record year for hotel renovations; nation's most expensive real estate markets
BD+C's roundup of the top construction market news for the week of August 18 includes the latest architecture billings index from AIA and a BOMA study on the nation's most and least expensive commercial real estate markets.
| Aug 22, 2013
Energy-efficient glazing technology [AIA Course]
This course discuses the latest technological advances in glazing, which make possible ever more efficient enclosures with ever greater glazed area.
| Aug 14, 2013
Green Building Report [2013 Giants 300 Report]
Building Design+Construction's rankings of the nation's largest green design and construction firms.
| Jul 31, 2013
Hotel, retail sectors bright spots of sluggish nonresidential construction market
A disappointing recovery of the U.S. economy is limiting need for new nonresidential building activity, said AIA Chief Economist, Kermit Baker in the AIA's semi-annual Consensus Construction Forecast, released today. As a result, AIA reduced its projections for 2013 spending to 2.3%.
| Jul 30, 2013
Better planning and delivery sought for VA healthcare facilities
Making Veterans Administration healthcare projects “better planned, better delivered” is the new goal of the VA’s Office of Construction and Facilities Management.
| Jul 30, 2013
Healthcare designers get an earful about controlling medical costs
At the current pace, in 2020 the U.S. will spend $4.2 trillion a year on healthcare; unchecked, waste would hit $1.2 trillion. Yet “waste” is keeping a lot of poorly performing hospitals in business, said healthcare facility experts at the recent American College of Healthcare Architects/AIA Academy of Architecture for Health Summer Leadership Summit in Chicago.
| Jul 22, 2013
Top Hotel Construction Firms [2013 Giants 300 Report]
Manhattan Construction, Structure Tone, Lend Lease top Building Design+Construction's 2013 ranking of the largest hotel contractors and construction management firms in the U.S.
| Jul 22, 2013
Top Hotel Engineering Firms [2013 Giants 300 Report]
AECOM, Parsons Brinckerhoff, Buro Happold top Building Design+Construction's 2013 ranking of the largest hotel engineering and engineering/architecture firms in the U.S.
