HENDERSONVILLE, Tennessee—The Canadian hotel development pipeline comprises 206 projects totaling 21,828 rooms, according to the December 2010 STR/McGraw Hill Construction Dodge Pipeline Report released this week. This represents a 6.7-percent decrease in the number of rooms in the pipeline compared to December 2009.
“Canada’s under-construction pipeline activity has slowed from an expected growth rate of 1.6 percent last year to 1.5 percent,” said Lana Yoshii, VP of content management at STR. “Looking more closely, the Upscale segment continues to be the most appealing segment for developers to invest in, as that segment is expected to increase supply by 6.5 percent (1,839 rooms) from projects under construction.”
Among the Chain Scale segments, three segments reported increases in rooms in the total active pipeline: the Midscale with Food and Beverage segment (+43.9 percent with 2,401 rooms); the Unaffiliated segment (+7.5 percent with 9,346 rooms); and the Economy segment (+2.8 percent with 777 rooms). The Upper Upscale segment was the only segment to report no rooms in the total active pipeline for December.
Canadian pipeline by Chain Scale segment (number of rooms & percent change December 2010 vs. December 2009)
|
Chain Scale
|
Existing Supply
|
In Construction
|
Total Active Pipeline*
|
Total
% Change
|
|
Luxury
|
14,891
|
267
|
467
|
-51.9%
|
|
Upper Upscale
|
29,718
|
-
|
|
-100.0%
|
|
Upscale
|
28,429
|
1,839
|
4,559
|
-21.1%
|
|
Midscale w/ F&B
|
65,385
|
1,415
|
2,401
|
+43.9%
|
|
Midscale w/o F&B
|
30,646
|
960
|
4,278
|
-2.4%
|
|
Economy
|
32,504
|
207
|
777
|
+2.8%
|
|
Unaffiliated
|
231,221
|
1,789
|
9,346
|
+7.5%
|
|
Total
|
432,794
|
6,477
|
21,828
|
-6.7%
|
* Includes those projects In Construction, Final Planning and Planning phases.
About STR/McGraw Hill Construction Dodge Pipeline Report:
The Pipeline Report is co-produced by McGraw Hill Construction Dodge, and the dedicated pipeline team at STR. Available as an annual subscription or a local Market Supply Report, the Pipeline Report is a comprehensive look at new hotel development and existing supply in the U.S. and Canada.
About STR
STR (www.str.com) provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. STR also founded the Hotel Data Conference (www.Hoteldataconference.com), which will be held 3-4 August 2011 in Nashville, Tennessee.
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