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CoStar: All Regions Besides Europe Increase Hotel Pipeline Activity

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

image

WASHINGTON—Europe is the only world region with lower hotel pipeline activity year over year, according to September 2024 data from CoStar.

September 2024
Percentage change in comparison with September 2023:

Europe

In Construction: 163,135 rooms (down 1.0 percent)
Final Planning: 87,779 rooms (down 21.9 percent)
Planning: 162,275 rooms (up 1.7 percent)
Total Under Contract: 413,189 rooms (down 5.4 percent)

Among countries in the region, Germany (27,175) led in construction activity, closely followed by the United Kingdom (24,733).

Asia Pacific

In Construction: 509,167 rooms (up 1.7 percent)
Final Planning: 55,448 rooms (down 50.1 percent)
Planning: 389,689 rooms (up 43.1 percent)
Total Under Contract: 954,304 rooms (up 7.9 percent)

China leads the Asia Pacific region in total rooms in construction (322,440), followed by Vietnam (35,810).

Middle East & Africa

In Construction: 110,229 rooms (down 4.3 percent)
Final Planning: 30,955 rooms (up 3.3 percent)
Planning: 85,178 rooms (up 7.3 percent)
Total Under Contract: 226,362 rooms (up 0.8 percent)

Most of the region’s pipeline activity is focused on the Middle East. Saudi Arabia (41,828) and the United Arab Emirates (18,959) have the most rooms in construction.

Americas

In Construction: 209,312 rooms (up 9.5 percent)
Final Planning: 305,199 rooms (up 10.6 percent)
Planning: 387,418 rooms (up 36.1 percent)
Total Under Contract: 901,929 rooms (up 20.0 percent)

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The United States (157,253) holds the majority of rooms in construction in the region. After the United States, Mexico (13,986), Canada (9,125), and Brazil (5,964) show the highest number of rooms in construction.

Please click here to access the full original article.

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