Tophotelprojects.com®: 50% Of All New First Class & Luxury Hotel Projects Have 150 To 300 Rooms

PRLog (Press Release) - May 06, 2008 -
More than 2,000 hotel projects worldwide scheduled to open by 2014 – The majority being luxury hotels – 60% of the largest hotel projects are located in the U.S.

Most hotel projects are mid-sized: According to a study by tophotelprojects.com® 92% of all scheduled first class and luxury hotels are planned with a maximum of 500 rooms. The majority (42%) will be opened with 150 to 300 rooms. Only 2% of these projects are have more than 1,000 guest rooms and suites. At 6.500 rooms the largest hotel project is the “Asia Asia Hotel” in Dubai/UAE. Over one third of all new hotels are located in Europe, but 60% of the largest hotels (with more than 2,800 rooms) are under construction in the USA. For this study, the hotel experts from tophotelprojects.com® analyzed more than 1,800 hotel projects worldwide.

“55% of all projects can be categorized as high-luxury hotels,” Rolf W. Schmidt, Managing Owner of CHD Expert Group (Publisher of tophotelprojects.com®) explained - “and 45% will be so called first-class hotels”. In Europe (where 32% of all current projects are located) the number of first class hotel project is nearly 64%. In comparison: In East Asia (26% of all current hotel projects) nearly 70% are luxury hotels. “In Europe we believe the market is approaching a saturation of luxury hotels,” Schmidt comments that. “The return on investment rate for first class hotels e.g. for business travelers is much higher.”

The TOP TEN luxury and first class hotel projects have more than 2,800 rooms – 60% of which are located in the United States. The majority of all hotel projects (92%) will have less than 500 rooms.

The main results of the hotel project study of tophotelprojects.com®:

General: More than 2,000 hotel projects worldwide
(opening until 2014): 55% luxury / 45% first class

Number of rooms
   * 1-149 rooms (30%)
   * 150 – 299 rooms (42%)
   * 300 – 499 rooms (20%)
   * 500 – 799 rooms (5%)
   * 800 – 999 rooms (1%)
   * more than 1,000 rooms (2%)


Sorted by regions:
   * Europe (32% of all hotel projects): 35% luxury / 64% first class
   * East Asia (26%): 68% luxury / 32% first class
   * North America (22%): 50% luxury / 50% first class
   * Middle East (13%): 79% luxury / 21% first class

Largest hotel projects:
   * More than 1,000 rooms – 43 hotel projects
   * More than 2,000 rooms – 15 hotel projects
   * More than 3,000 rooms – 8 hotel projects

TOP10 by region:
   * 60% - North America
   * 20% - Middle East
   * 10% - East Asia
   * 10% - Europe

Photo:
http://www.prlog.org/10069447/1