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Highest number of new hotel brands in US
There were 34 new hotel brands launched in the US from January to October of last year, says a new study by PricewaterhouseCoopers, LLP.
That translates to one brand introduction a month nationwide during that period, or the highest number in a three-year span since 1989.
But unlike the 1980s, when the United States grew a huge crop of extended-stay, limited service and economy brands, luxury properties are leading the way this time, says PricewaterhouseCoopers.
Of the 34 new concepts, 18 were in the luxury segment, including Baccarat by Starwood Capital Group LLC, SLS Hotels by SBE Entertainment Group, The Rocco Forte Collection by Rocco Forte Hotels, the Waldorf-Astoria Collection by Hilton Hotels and Le Crillion, also by Starwood Capital.
“This is the largest number of new luxury brand hotels in a three-year period since 1982,” says the Atlanta Business Journal.
Record average daily rates and the availability of financing have also helped fuel the growth of new brands in the US lodging industry, the study says.
From 20002 to 2004, however, after Sept. 11, 2001, there was a trough in hotel development — the lowest point since 1982.
Report by David Wilkening
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