Hotel growth continues worldwide
Saturday 12, June 2010
Despite global economic challenges, hotel developments continue to progress, with 432,000 new rooms injected into global supply by both independent hotels and groups.
International hotel supply records a 2.7% growth to reach almost 20 million classified rooms. Much of this growth is fuelled by hotel groups, alone recording an increase of 4.2%.
“Although much the world’s hotel growth is a result of projects already launched before the crisis, it is still a positive indication of the commitment, endurance and potential from developers, investors and of course hoteliers. It is also no doubt necessary in order to stimulate economic growth, and then, when recovery is well and truly upon us, sustain it,” states CEO, MKG Group, Georges Panayotis.
Renewed dynamism in mature market-continents is most apparent, with 170,000 new rooms in North America and 138,000 in Europe, an increase of 3.1% and 2.2%, respectively. Asia-Pacific is somewhat subdued during this particular period, managing 98,000 rooms, a growth of only 1.9%.
Other regions also show development resilience during the global economic challenge, with Latin America registering 63,600 new rooms (+4.8%), Middle East and Africa 52,700 (+4.2%).
“Moderate growth and reduced pipeline developments are anticipated for the coming years however, given the number of cancellations, postponements and of course the difficulties in obtaining financing,” continued Panayotis. “As a result, we can expect greater popularity in hotel franchising, widely considered to be the best way to expand internationally.”
2010’s World Hotel Ranking has remains largely unchanged. Only Hilton Worldwide manages to move into third position with an 8% increase in room supply, pushing out Marriott International. Hilton’s extensive franchise development programme in the US being the driving factor. The year’s growth is also marked by consolidations, though more was actually expected. Most notable is Groupe du Louvre (+28.8%) and NH Hoteles (+18.6%), both taking over other groups and expanding their portfolio with Golden Tulip and Hesperia, respectively. Exceptional supply growth also came from Australian-based Mantra Group (+89.2%), 7 Days Group Holdings Limited (+51.8%), Barcelo Hotels (+33.8%) and Merrylin Hotel Management (+23.8%).
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