According to the latest Global Construction Pipeline Trend Report from Lodging Econometrics (LE), the worldwide pipeline is at 11,130 projects and 1.9 million rooms, the highest level LE has ever recorded. The Global Pipeline is up 9 percent year-over-year (YOY) by both projects and rooms, lead by significant growth in the United States which has the world’s largest pipeline.
Globally there are 5,287 projects and 986,913 rooms under construction, up 1 percent by projects and 3 percent by rooms. Projects scheduled to start construction in the next 12 months, at 3,041 projects and 440,632 rooms, increased significantly, up 30 percent by projects and 25 percent by rooms. Projects in early planning, with 2,802 projects and 472,251 rooms, is up 8 percent by projects and 9 percent by rooms.
Instead of Chicago Mayor Rahm Emanuel’s ordinance amendment that would set a 90-day limit on rentals per year, with those renting for longer periods required to get a business license, the Illinois Hotel & Lodging Association is calling for simpler measures as a compromise with rental operators. To read more, click here.
According to a new report from iCIMS, a provider of software-as-a-service talent acquisition solutions, approximately 3.3 million job applications were submitted using social media profiles to pre-populate online submission forms in 2015. In addition, the report found that job seekers use them to share job opportunities and provide feedback on the job application process. To read the full report, click here.
Approaching the increasingly complex sharing economy in a new way, AccorHotels has agreed to purchase Onefinestay, a home-sharing service, for $168 million. The company expects to invest another $72 million to extend the reaches of the service internationally. The purchase can be seen as a new tactic to compete against the likes of Airbnb—instead of adding more hotel rooms that cannot rival Airbnb, Onefinestay rentals will more directly compete with Airbnb for customers—but will also help grow Accor’s luxury business. Onefinestay offers apartments in trendy areas like London’s Shoreditch district, and the acquisition comes on the heels of the company’s $2.9 billion purchase of the Fairmont, Swissotel, and Raffles chains in December. To read more, click here.
Over the past year, more than a dozen new hotel projects have been proposed in the San Francisco area, with a pipeline of now 4,000 rooms. Driven by increased tourism and strong business travel, the proposals are refreshing a city that has seen little hotel development activity in the last 15 years. To read more, click here.
Following the terrorist attacks in Brussels on March 22 (and the U.S. State Department’s subsequent travel alert), it appears that U.S. business travel to Europe has only marginally slowed. According to a poll by the Global Business Travel Association, 47 percent of respondents planned to make no changes at all to travel plans to or within Europe. Of those that did plan to make changes, most said that they would limit travel slightly. To read more, click here.