Construction Pipeline Overview
At the end of Q4 2009, according to Lodging Econometrics, thetotal construction pipeline for Europe, the Middle East and Africa,has 1,373 projects/285,770 rooms. Pipeline counts have now declined22% by projects and 23% by rooms since the Q2 2008 peak. And,according to the company, they are expected to decline further, asconcerns about the pace of economic recovery, the industry'soperating perfor¬mance and lending issues persist and continue toimpact developer sentiment.
Depleted by high cancellations and a late surge in new openings,total pipeline counts are in an end-of-cycle contraction, saysLodging Econometrics. In 2009, total cancellations/postpone¬mentsin EMEA removed nearly 96,000 rooms from the pipeline. "As thelending environment is not expected to rebound any time soon,cancellations/postpone¬ments will likely remain high for thenear-term. New hotel openings coming online as additional supplywill stay at an elevated rate, particularly in the Middle East andAfrica, where new openings will accelerate through 2011."Meanwhile, the company says that new project announcements into thepipeline, which have been in a low channel for four consecutivequarters, are expected to remain at these low levels, which are farfrom sufficient to offset declining Pipeline trends.
Middle East
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
