CoStar Group | October 24, 2024

WASHINGTON – 24 October 2024 – Europe is the only world region with lower hotel pipeline activity year over year, according to September 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. 

September 2024 (% change in comparison with September 2023):

Europe

  • In construction: 163,135 rooms (-1.0%)
  • Final Planning: 87,779 rooms (-21.9%)
  • Planning: 162,275 rooms (+1.7%)
  • Total Under Contract: 413,189 rooms (-5.4%)

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

Asia Pacific

  • In construction: 509,167 rooms (+1.7%)
  • Final Planning: 55,448 rooms (-50.1%)
  • Planning: 389,689 rooms (+43.1%)
  • Total Under Contract: 954,304 rooms (+7.9%)

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 (-4.3%)
  • Final Planning: 30,955 rooms (+3.3%)
  • Planning: 85,178 rooms (+7.3%)
  • Total Under Contract: 226,362 rooms (+0.8%)

Most of the region’s pipeline activity is focused in 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 (+9.5%)
  • Final Planning: 305,199 rooms (+10.6%)
  • Planning: 387,418 rooms (+36.1%)
  • Total Under Contract: 901,929 rooms  (+20.0%)

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

For more information about the company and its products and services, please visit www.costargroup.com. 

Performance Data
CoStar’s world-leading hotel performance sample comprises 85,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.