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The International Hotel Market: 1,330 new luxury hotels to open by year-end

June this year saw the opening of 83 new high-class hotels. Amongst the biggest is the Hard Rock Hotel Panama Megapolis with 1,500 rooms, and the Royal Alhambra Palace Hotel in Side/Turkey with 500 rooms. The data is taken from a recent survey by Tophotelprojects, the leading information service provider for international hotel construction projects. In July a further 78 first-class and luxury hotels are scheduled to open, probably followed in August by another 362. The research indicates that a further 1,330 high-class and luxury hotels are due to open by the year-end.

In particular, there has been a long-term and sustained boom in the construction of hotels in China and India, where the Tophotelprojects survey shows that 853 high-class and luxury hotels with 225,000 rooms are now planned or under construction. Marriott International, the world’s fourth largest hotel chain, typifies the current investment volume. At present there are 129 luxury and first-class hotels with some 75,000 rooms under construction in Asia under the brand names Ritz-Carlton, JW Marriott, Bulgari, Renaissance, Marriott Hotels & Resorts, Courtyard and Marriott Executive Apartments, in addition to the 129 existing establishments.

The Tophotelprojects data bank currently lists some 600 new hotel projects scheduled to open in China over the next few years. The Accor China Group recently announced it had concluded 31 new hotel contracts since the beginning of this year: one Sofitel, nine Pullman, five Mei Jue (Grand Mercure), one Novotel, and 15 Ibis projects, with a total of 6,572 new rooms. At present, Accor has 90 new hotels in the China pipeline, demonstrating the group’s progress in both the luxury and economy hotel markets.

China is currently at the top of the Marriott list: in the coming three to four years it will double from 59 the number of four- and five-star hotels. The latest project – the 250th by Marriott in China – is the Renaissance Bo’ao Resort & Spa on the South China dream island of Hainan, and is due to open in 2015.

The survey shows there are currently 314 hotel construction projects with more than 54,000 rooms in India. The sector leader IHG is currently planning and building eleven new luxury hotels on the sub-continent with 2,200 rooms. Hilton Worldwide is building eight new hotels with some 2,000 rooms. In the next few years Wyndham Worldwide expects to open ten new hotels with about 1,100 rooms. At present Marriott is planning 29 hotels with nearly 6,500 rooms. Accor plans eight new hotels with more than 2,400 rooms.

Further information: tophotelprojects.com

 

1 Comment

  1. Pass@Hotel | | Reply

    This is great news that there are opening many new hotels in India, it will add more beauty, luxury and ambiance to your personal and professional life.

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