hotel planning
Hotel Pipeline Activity Increased Globally, Except for Europe
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). ...
The Americas and Asia Pacific Show Growth in Hotel Pipeline Activity
CoStar Group | July 19, 2024
WASHINGTON – 19 July 2024 – 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. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. June 2024 (% change in comparison with June 2023): Europe In construction: 165,858 rooms (-2.4%) Final Planning: 93,241 rooms (-20.9%) Planning: 160,651 rooms (+8.0%) Total Under Contract: 419,750 rooms (-3.8%) Among countries in the region, Germany (27,302) led in construction act...
U.S. Hotel Construction Activity Highest Since February 2023
CoStar Group | July 18, 2024
WASHINGTON – 18 July 2024 – The volume of U.S. hotel rooms under construction reached its highest level in 16 months, according to CoStar’s latest June 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline June 2024 (percentage change from June 2023) In construction: 157,713 rooms (+5.5%) Final Planning: 266,619 rooms (+9.8%) Planning: 333,827 rooms (+38.7%) “The number of rooms in construction has grown year over year for four consecutive months,” said Isaac Collazo, STR’s VP, analytics. “While upscale and upper m...
Resurgence in Full-Service Projects in the Global Construction Pipeline at Q1 2024
Lodging Econometrics | May 31, 2024
The Q1 2024 Global Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE) reveals that the total global pipeline hit an all-time high for room counts and highlights a significant increase in full-service projects at the close of the first quarter. LE analysts report that, at Q1, the total global pipeline stands at 15,366 projects/2,382,195 rooms, a 6% increase in projects, and a 3% increase in rooms year-over-year (YOY). There are 6,195 projects/1,101,602 rooms currently under construction worldwide at Q1. Projects scheduled to start construction in the next 12 months stand at 3,840 projects/528,251 rooms, for an 8% incre...
New York Market Leads U.S. With Number of Hotels Under Construction in Q1 2024
Lodging Econometrics (LE) | May 29, 2024
May 29, 2024 – PORTSMOUTH, NH – Lodging Econometrics (LE) releases the latest on hotel development for the New York, NY market, prior to the NYU International Hospitality Industry Investment Conference (NYU Conference). In the Q1 2024 LE Market Trend Report for the New York market, analysts report the market has a total of 78 projects/13,549 rooms in the hotel construction pipeline, the tenth largest pipeline by projects of any market in the U.S. Of the top 50 markets in the U.S., the New York market leads with the greatest number of hotels presently under construction standing at 47 projects/7,655 rooms. Projects scheduled to start...
Middle East Hotel Construction Pipeline Rises to 612 Projects/144,222 Rooms at Q1 2024
Lodging Econometrics (LE) | May 15, 2024
May 15, 2024 – PORTSMOUTH, NH – The Q1 2024 Hotel Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE) reveals, at Q1, the hotel construction pipeline in the region increased to 612 projects/144,222 rooms, up 5% by projects year-over-year (YOY). At Q1 2024, projects currently under construction stand at 302 projects/80,589 rooms. Projects scheduled to start construction in the next 12 months stand at 133 projects/30,447 rooms, up 28% by projects YOY and 24% by rooms YOY. Projects in the early planning stage stand at 177 projects/33,186 rooms, up 18% by projects and 12% by rooms YOY. New project announce...
Forty-Five Percent of Hotel Projects in Europe’s Total Pipeline Are Under Construction at the End of Q1 2024
Lodging Econometrics (LE) | May 14, 2024
May 14, 2024 – PORTSMOUTH, NH – Lodging Econometrics (LE) has released its Q1 2024 Hotel Construction Pipeline Trend Report for Europe. According to LE analysts, the region’s total pipeline stands at 1,705 projects/253,777 rooms at the close of the first quarter. As of the first quarter's close, 45% of the hotel projects in Europe’s total pipeline are in the under construction stage, standing at 762 projects and 117,815 rooms. Another 411 projects with 60,356 rooms are scheduled to start construction in the next 12 months, while 532 projects with 75,606 rooms are in the early planning stage, slightly below the record-high reported ...
U.S. Hotel Construction Activity Rose in March, First Increase in Nine Months
CoStar Group | April 16, 2024
WASHINGTON – 16 April 2024 – The volume of U.S. hotel rooms under construction grew year over year for the first time since June 2023, according to CoStar’s March 2024 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. U.S. Hotel Pipeline March 2024 (percentage change from March 2023) In construction: 156,525 rooms (+1.5%) Final Planning: 263,316 rooms (+9.8%) Planning: 324,522 rooms (+39.5%) “While the number of rooms in construction has grown, that figure remains below what was seen prior to the pandemic,” said Isaac Collazo, STR’s VP, a...
