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CoStar: Asia Pacific and the Americas Show Increase in Hotel Pipeline Activity

  • LODGING Staff
  • 22 July 2024
  • 1 minute read
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This article was written by Lodging Magazine. Click here to read the original article

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WASHINGTON—Two of the world regions, the Americas and Asia Pacific, showed a year-over-year increase in hotel pipeline activity at the end of the second quarter, according to June 2024 data from CoStar.

June 2024 (Percent change in comparison with June 2023):

Europe
  • In construction: 165,858 rooms (down 2.4 percent)
  • Final planning: 93,241 rooms (down 20.9 percent)
  • Planning: 160,651 rooms (up 8.0 percent)
  • Total under contract: 419,750 rooms (down 3.8 percent)

Among countries in the region, Germany (27,302) led in construction activity, closely followed by the United Kingdom (25,312).

Asia Pacific
  • In construction: 503,770 rooms (up 4.4 percent)
  • Final planning: 91,282 rooms (down 22.9 percent)
  • Planning: 323,931 rooms (up 16.5 percent)
  • Total under contract: 918,983 rooms (up 4.5 percent)

China leads the Asia Pacific region in total rooms in construction (319,012), followed by Vietnam (36,521).

Middle East & Africa
  • In construction: 109,005 rooms (down 5.6 percent)
  • Final planning: 33,040 rooms (down 23.8 percent)
  • Planning: 83,020 rooms (up 9.2 percent)
  • Total under contract: 225,065 rooms (down 4.2 percent)

Most of the region’s pipeline activity is focused on the Middle East. Saudi Arabia (42,786) and the United Arab Emirates (18,933) have the most rooms in construction.

Americas
  • In construction: 208,718 rooms (up 8.3 percent)
  • Final planning: 299,153 rooms (up 6.9 percent)
  • Planning: 385,945 rooms (up 34.6 percent)
  • Total under contract: 893,816 rooms (up 17.8 percent)

The United States (157,713) has the most rooms in construction in the region. After the United States, Mexico (13,301), Canada (8,686), and Brazil (5,948) have the highest number of rooms in construction.

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