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Breaking News: Americas Leads the Way in Hotel Construction
According to year-end data from CoStar, the Americas was the only world region to show an increase in overall hotel pipeline activity. With substantial volume in the planning phases, this is an exciting trend for the hospitality industry.
Construction activity saw a decrease in every world region except Asia Pacific, signaling a potential shift in the global hotel construction landscape.
Here’s a breakdown of the data:
Europe
- In construction: 171,354 (-9.7%)
- Final Planning: 111,255 (-20.9%)
- Planning: 178,580 (+16.3%)
- Total Under Contract: 461,189 (-4.7%)
Germany led in construction activity among European countries, with the UK following closely behind.
Asia Pacific
- In construction: 486,410 (+2.0%)
- Final Planning: 111,462 (+2.3%)
- Planning: 290,699 (-4.8%)
- Total Under Contract: 888,571 (-0.3%)
China leads the Asia Pacific region in total rooms in construction, with Vietnam also showing significant construction activity.
Middle East & Africa
- In construction: 112,128 (-8.6%)
- Final Planning: 36,912 (-10.2%)
- Planning: 80,294 (+7.3%)
- Total Under Contract: 229,334 (-3.9%)
The Middle East has the most significant pipeline activity in this region, with Saudi Arabia and the United Arab Emirates leading in construction.
Americas
- In construction: 200,615 (-3.1%)
- Final Planning: 289,394 (+18.1%)
- Planning: 370,033 (+30.0%)
- Total Under Contract: 860,042 (+16.7%)
The Americas, particularly the U.S., is at the forefront of hotel construction. The U.S. holds the majority of rooms in construction within the region, with Mexico, Canada, and Brazil showing significant activity as well.
For more insights and information about this data, visit CoStar.
About STR
STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. For more information, please visit str.com. For details about CoStar and its products and services, visit costargroup.com.