The Americas’ hotel market is looking at a promising 2020. (Photo: Ragnar Vorel on Unsplash)
We take a look at the TOPHOTELCONSTRUCTION database to summarise project pipelines across the Americas, identify key growth markets and projects worth watching.
It’s all systems go across the Americas as projects both north and south of the equator get underway.
We take a deep dive into the Americas’ pipelines and highlight some of the largest and most interesting projects we can expect to see live in the region soon.
US and Mexico performing well
Figures from the TOPHOTELCONSTRUCTION database reveals a lot about the health of a region’s hospitality industry and based on statistics and projections pulled from the database, it appears that North America is doing well as the year draws to a close.
According to the numbers, there are 1,753 projects in the North American pipeline which will bring a total of 7,356 additional rooms to the region.
Compare this to the South American pipeline of 232 projects totalling 1,006 rooms, and it’s not hard to see the difference between the regions’ growth prospects.
South America is undergoing a period of civil unrest, but it is unclear whether this is impacting hospitality investment and development.
The United States and Mexico are leaps and bounds ahead of other countries when it comes to numbers, with the US awaiting 1,415 projects for a total key count of 286,957, while Mexico anticipates 124 projects with a total key count of 38,121.
US cities take all slots in Top 10
As far as cities are concerned, the database reports that the most activity taking place is in major cities in the United States.
The five cities with the biggest pipelines are New York, Los Angeles, Atlanta, Nashville and Miami, with a respective 63, 40, 37, 36 and 31 projects each.
Regarding the brands that are being most heavily developed, the majority are in the midrange, extended stay and lifestyle segments. Brands such as Hampton by Hilton and Home2 Suite by Hilton are joined by Hyatt Place, Cambria Hotels (click here for more information) and aloft in the Top 5.
Largest project development
The largest project being developed in the Americas is the Resort World Las Vegas, which will boast an incredible 6,583 rooms. The scheme is currently under construction and is due for completion at the end of 2020. It is owned by Malaysian conglomerate Genting Berhad.
The development has suffered several delays and setbacks but is on course to open in approximately 12 months. It will be comprised of three hotels as well as a huge casino that is geared towards a younger generation of gamblers.
Notable projects
There are several notable projects underway across the Americas, and three are of particular interest.
The Sheraton Denver Downtown is a 1,231 key property due to open in the middle of 2020 and is geared towards business travellers. Upon completion, it will be the city’s largest meetings and events hotel.
The Sam Lord’s Castle Barbados – A Wyndham Grand Resort is a luxury 5-star resort in a former pirate cove on the south-eastern tip of Barbados. This resort will boast 450 rooms and is slated to open at the end of this year.
Finally, the Ritz Carlton Puerto Madero will be a 300-key hotel in the regenerated docklands of Buenos Aires which is currently in planning. The hotel will be completed in 2023 and will consist of a hotel, apart hotel and residences.
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