STR Global has released hotel development pipeline data for March.
Asia/Pacific: The Asia/Pacific hotel development pipeline includes 976 hotels comprising 248,156 rooms, according to the March 2010 STR Global Construction Pipeline Report released this week.
Among the region’s countries, China reported the largest number of rooms in the total active pipeline with 131,175. The country also reported the most rooms in the In Construction phase (93,300 rooms). Three other countries ended the month with more than 10,000 rooms in the total active pipeline: India (43,448 rooms), Thailand (15,449 rooms), and Vietnam (10,869 rooms).
Caribbean/Mexico: The Caribbean/Mexico hotel development pipeline comprises 132 hotels totaling 17,290 rooms, according to the March 2010 STR/TWR/Dodge Construction Pipeline Report released this week.
Among the countries in the region, Mexico ended the month with the most rooms in the total active pipeline with 10,562 rooms. The country also reported the largest number of rooms in the In Construction phase (4,877 rooms). Two other countries reported more than 1,000 rooms in the total active pipeline: Dominican Republic (1,874 rooms) and Puerto Rico (1,409 rooms). The Dominican Republic ended the month with 1,437 rooms in the In Construction phase and Puerto Rico ended with 945 rooms.
Central/South America: The Central/South America hotel development pipeline includes 132 projects comprising 21,060 rooms, according to the March 2010 STR Global Construction Pipeline Report released this week.
Among the countries in the region, Brazil ended the month with the most rooms in the total active pipeline with 7,643 rooms, including 3,151 rooms in the In Construction phase. Panama followed with 4,682 rooms in the total active pipeline and 2,477 rooms in the In Construction phase. Four other countries reported more than 1,000 rooms in the total active pipeline: Argentina (1,866 rooms); Colombia (1,687 rooms); Venezuela (1,312 rooms); and Costa Rica (1,299 rooms).
Europe: The Europe hotel development pipeline comprises 657 hotels totaling 112,816 rooms, according to the March 2010 STR Global Construction Pipeline Report released this week.
Among the countries in the region the United Kingdom reported the most rooms in the total active pipeline with 25,498. The country also ended the month with the largest number of rooms in the In Construction phase with 12,519. Germany reported a substantial amount of rooms in the total active pipeline with 17,912, followed by Russia with 15,614 rooms. Germany ended the month with 7,999 rooms in the In Construction phase and Russia had 7,210 rooms.
Middle East/Africa: The Middle East/Africa hotel development pipeline includes 473 hotels comprising 127,952 rooms, according to the March 2010 STR Global Construction Pipeline Report released this week.
Among the countries in the region, the United Arab Emirates ended the month with the most rooms in the total active pipeline (53,477) and in the In Construction phase (26,868). Four other countries reported more than 5,000 rooms in the total active pipeline: Saudi Arabia (15,958 rooms); Egypt (6,397 rooms); and Qatar (6,123 rooms).
Under an agreement with Rezidor Hotel Group and Carlson, Formosa International Hotels Corporation will acquire the Regent hotel business.
Future Regent hotels will be based on the concept of “mixed use, lifestyle development,” according to a news release. Regent will focus on gateway cities such as Shanghai, New York and Paris. Pipeline projects are in such locations as Abu Dhabi, Maldives and Puerto Rico.
The deal is expected to close next month.
STR’s Lana Yoshii has examined whether urban or suburban hotels will benefit most from the increase in demand being seen in the hotel industry.
Her conclusion amounts to something of a draw: Urban hotels are recovering at a faster clip than their suburban counterparts, but demand is growing faster at suburban hotels.
Brussels, Belgium-based Rezidor Hotel Group said its revenue-per-available-room was largely flat during the first quarter, declining by 0.1 percent to €54.6 million (US$73.9 million). The company said it opened approximately 600 rooms during the quarter while 500 rooms left Rezidor’s system.
Occupancy increased to 56.3 percent during the quarter from 53.2 percent during the same period a year ago. Rezidor posted earnings per share loss of €0.12 (16 cents) during the quarter, compared to a loss of €0.13 (18 cents) a year ago.
Chatham Lodging Trust priced its shares as expected during the real estate investment trust’s initial public offering Thursday, an unnamed source told Reuters.
The Palm Beach, Florida-based REIT raised US$150 million in selling 7.5 million shares.
Chatham intends to invest in select-service hotels in metropolitan U.S. markets.
Compiled by Shawn A. Turner.
