Five hottest hotel development markets in Europe

INTERNATIONAL REPORT — With almost double the new construction projects of its nearest competitor, London is far and away leading Europe’s hotel development pipeline through the end of the second quarter of 2023, according to data from Lodging Econometrics.

The total hotel development pipeline in Europe, which includes new construction projects, announced renovations and brand conversions, stood at 2,249 projects and 331,013 rooms through the end of June.

The top countries in Europe’s development pipeline include the United Kingdom, Germany, France, Portugal and Turkey. These countries also contain the top five cities in Europe with the largest development pipeline.

London is the top market in Europe, with 107 total projects and 19,802 rooms. Of those projects, 82 are new construction, while 25 are renovations and conversions.

Istanbul comes in second on the list with a record number of new construction projects (59 projects and 9,428 rooms.) Paris is third on the list (39 projects and 5,067 rooms.)

Lisbon is fourth on the list (39 projects and 4,381 rooms), with Dublin coming in fifth (37 projects and 6,851 rooms.) Dusseldorf, Germany, came in sixth but is not listed on the chart below.

According to the data, Europe’s top five hotel development markets account for 13% of the development projects and 18% of the rooms in its total pipeline through the end of Q2.

Lodging Econometrics also said that the data shows the UK, Germany, France, Portugal and Turkey are also expected to lead Europe with the most hotels forecast to open through 2025. That means many projects listed below will open in the next few years.

TOP FIVE HOTEL DEVELOPMENT MARKETS IN EUROPE

Here’s a more detailed look at the top five markets