STR Global completes its roundup of pipeline data with a look at the Caribbean/Mexico and Central/South American regions.
Caribbean/Mexico: The Caribbean/Mexico hotel development pipeline comprises 133 hotels totaling 19,201 rooms, according to the May 2012 STR Construction Pipeline Report.
Among the chain scale segments, the upscale segment represented the largest portion of rooms in the total active pipeline with 25.2% and 4,836 rooms. Three other segments each comprised more than 15% of rooms in the total active pipeline: the upper midscale segment (20.9% with 4,015 rooms); the luxury segment (19.6% with 3,767 rooms); and the unaffiliated segment (19.4% with 3,734 rooms).
Central/South America: The Central/South America hotel development pipeline comprises 224 hotels totaling 31,625 rooms, according to the May 2012 STR Global Construction Pipeline Report.
Year-to-date 2012, 15 properties with 2,977 rooms opened in the region. For the remainder of the year, 38 properties with 5,497 rooms are scheduled to open. The upscale segment is expected to open the most rooms with 1,299 rooms in 10 properties, followed by the upper midscale segment with 1,063 rooms in seven properties.
The May Travel Price Index increased 2% compared to May 2011. Hotels and motels saw prices increase by 4% compared to last year and 3% compared to April 2012.
Motor fuel prices decreased 3.8% compared to May 2011 and 3.6% from last month. Meanwhile, airfares increased 3.2% against 12 months earlier and 1.3% from April 2012.
The U.S. Fourth of July holiday is only a few weeks away, and motorists will be traveling in record numbers this year, according to a survey of 50,000 U.S. households conducted by travel group AAA.
Encouraged by cheaper gasoline prices, AAA said 35.5 million people will drive 50 miles or more away from home between 3-8 July, an increase of 4% from last year and the largest number in the last decade.
An additional 3.2 million will fly over the holiday period, up 9% from a year ago, bringing the total number of vacationers to 42.3 million—a tie with the decade’s record in 2007.
Global hotel chains are looking to expand their portfolios, but the Scandinavian hotel market remains largely elusive, especially with regional operators dominating the landscape, writes HotelNewsNow.com contributor Karine Bourget.
Even as some brands such as Accor, which has 28 hotels in Sweden, according to its website, is maintaining a presence in Scandinavia, other global chains including Hilton Worldwide (four properties), Marriott International (three properties), Starwood Hotels & Resorts Worldwide (one property) and InterContinental Hotels Group (one property) are having trouble penetrating the region.
The problem is occurring because the Scandinavian hotel markets are largely lease-driven. Global hotel chains will have to become more flexible to increase their exposure in the untapped Scandinavian market.
A gas explosion at the Gaylord Opryland Resort and Convention Center in Nashville, Tennessee, caused the evacuation of 5,000 guests overnight at the 2,881-room hotel. Guests were allowed back in their rooms, and no injuries were reported.
The explosion was reported around 8:15 p.m. Central Daylight Time 19 June in the Delta Atrium. Authorities confirmed that the cause of the explosion was mechanical in nature, and investigators ruled out any suspicious activity. Initial estimates of the damages are less than $750,000 and repairs are underway.
“First and foremost, what is important is that no one was hurt as a result of this incident,” Colin V. Reed, chairman and CEO of Gaylord Entertainment said in the news release. “I want to commend the efforts of the Nashville Fire Department, Nashville Police Department, and our STARS for their swift response that ensured that the issue was assessed as quickly as possible and that all guests were safely evacuated. At this stage we can now focus on returning to business as usual and repairing the impacted areas of the properly with minimal disruption to our guests.”
This explosion comes two years after unprecedented flooding caused the hotel to shut down and renovate after the damage.
Compiled by Alissa Ponchione.