US and China drive global hotel development
The US and China are driving the expansion of global hotel supply, a new report has revealed.
A Lodging Econometrics (LE) worldwide pipeline report revealed that the US (4,471 hotels comprising 551,965 rooms) and China (2,448 hotels with 549,222 rooms) have by far the world’s largest pipelines.
Following at a distance are Brazil (407 hotels with 70,833 rooms), Indonesia (398 hotels with 64,695 rooms) and India (314 hotels with 47,566 rooms).
LE noted however, that apart from the US, the other top markets all saw shrinking pipelines in 2015, with an average drop of 12% in terms of hotels. India recorded the largest decline, with a 19% reduction in pipeline projects.
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