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US Construction Pipeline Trends: Spring 2017 Market Pulse Analysis

Discover key insights from the latest US Construction Pipeline Trend Report, including project growth, room availability, and market forecasts. Take advantage of this valuable data to make informed decisions in the lodging industry.

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US Construction Pipeline Trends: Spring 2017 Market Pulse Analysis

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  1. 2018 Market Pulse: What the Data Reveals Spring 2017 JP Ford, CHB, ISHC, Senior Vice President, Global Director of Business Development

  2. The State of the US Construction Pipeline Fast Facts The latest US Construction Pipeline Trend Report from Lodging Econometrics (LE), states that the total US Construction Pipeline ended Q3 2017 with 5,011 Projects/608,837 Rooms, up 4% by projects and 4% by rooms Year-Over-Year (YOY). • There are 1,592 Projects/208,523 Rooms Under Construction, up 123 projects or 8% YOY. • Projects Scheduled to Start in the Next 12 Months, at 2,198 Projects/251,259 Rooms, are down 17 projects, <1% YOY. • Projects in Early Planning at 1,221 Projects/ 149,055 Rooms are up 109 projects or 10% YOY. • Close to 3,300 new hotels with nearly 378,000 new rooms are forecast to open in the US through 2019.

  3. US Lodging Real Estate Cycle Last Cycle Peak: Q208 with 5,883 Projects/785,547 Rooms Peak New Hotel Openings Peak Earnings Peak Transaction Activity Wall St. Activity New Project Announcements Full Operating Recovery Landing Zone ?? • Early Transaction Recovery Main Street Debt Availability • Conversions/Renovations Early Operating Recovery X

  4. US Construction Pipeline By Projects and Rooms 615 609 599 Forecast 546 461 383 Rooms (000s) 341 Projects 2,757 3,020 3,645 4,413 4,960 5,011

  5. US Construction Pipeline By Project Stage Year-Over-Year (YOY)

  6. US Construction Pipeline By Chain Scale % by rooms

  7. US Construction Pipeline By Chain Scale with Unbranded Included % by rooms

  8. US Forecast New Hotel Openings By Rooms

  9. US Forecast for New Hotel Openings By Chain Scale

  10. US Construction Pipeline Top Ten Markets YOY by Rooms 190 31.2 181 30.2 Projects Rooms 169 19.9 108 18.2 143 17.6 112 16.8 124 16.7 148 16.4 131 15.8 123 15.7 Rooms Pipeline as a % of Market Census

  11. US Construction Pipeline Top Ten Markets YOY by Rooms cont’d Projects Rooms 65 15.5 79 14.9 84 14.8 73 12.7 68 11.5 64 11.4 68 11.6 67 11.3 68 10.5 39 7.0 Rooms Pipeline as a % of Market Census

  12. U.S. Construction Pipeline Top US Parent Companies New Construction Plus Conversions by Rooms

  13. Global Construction Pipeline by Region 2017 vs. 2016* *US numbers are Q317 v Q316. All other regions are Q217 v Q216.

  14. Asia Pacific Construction Pipeline Top Countries YOY by Rooms

  15. Asia Pacific Construction Pipeline Top Cities YOY by Rooms Projects Rooms 124 26.0 137 25.8 120 23.9 113 23.3 81 22.2 113 21.9 122 21.4 93 20.9 104 20.3 95 16.8

  16. Latin America Construction Pipeline Top Countries YOY by Rooms

  17. Latin America Construction Pipeline Top Cities YOY by Rooms 15 7.4 Projects Rooms 38 7.2 38 7.0 8 6.5 34 6.2 25 4.6 24 4.1 21 3.4 17 2.7 7 1.1

  18. Europe Construction Pipeline Top Countries YOY by Rooms

  19. Europe Construction Pipeline Top Cities YOY by Rooms 83 15.0 78 14.1 31 7.8 39 7.1 35 6.3 30 6.0 33 5.8 26 5.3 18 3.6 25 2.6

  20. US Transactions with a Reported Selling Price Q3 2017 K K K K K K K Average Selling Price Per Room (000s) K K K K K K K

  21. US Lodging Real Estate: Total Investment by Dollars*Q3 2017 *Figures are for Transactions with a Reported Selling Price and dollars are in millions

  22. Spring 2017 Takeaways • New hotel pipeline growth has moderated. Only incremental increases expected over the next few quarters. • There is a disciplined approach to supply growth today characterized by the attitudes of all parties; developer, lender, franchisor, etc. • We will not reach the peak of the last cycle this time around . . . good news. • Bouncing around the top of the “maturity” stage of a development cycle is a good thing. . . • Sales transactions accelerated tremendously in 3Q17. We expect more of the same in 4Q. • If you are an owner, it is still a great time to sell and take your profits given the sales cycle and looming interest rates.

  23. Spring 2017 Thank You JP Ford, CHB, ISHC Senior Vice President, Global Director of Business Development Office: +1 603.427.9550 Email: jpford@LodgingEconometrics.com Come visit our booth to see our new platform!

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