Hotel Construction Down Across World Regions

STR | April 21, 2023

LONDON—Each of the four world regions showed a year-over-year decline in hotel construction activity, with Asia Pacific coming closest to its 2022 comparable, according to March 2023 pipeline data from STR. March 2023 (% changes in comparison with March 2022): Europe In Construction: 184,851 rooms (-18.2%) Final Planning: 133,580 rooms (-15.9%) Planning: 156,095 rooms (-5.4%) Total Under Contract: 474,526 (-13.7%) Germany (34,030) and the U.K. (29,160) lead Europe in total rooms in construction. Asia Pacific In Construction: 476,993 rooms (-0.8%) Final Planning: 105,435 rooms (-29.6%) Planning: 322,507 ...