INTERNATIONAL
REPORT — Shanghai, London and Dubai are projected to open the most hotel rooms
in 2025 for markets outside the U.S., according to CoStar pipeline data.
The numbers
show that, outside of the Americas region, there is a declining amount of
projects worldwide in the final planning stages.
Europe’s
pipeline has 171,294 rooms in the construction (unchanged year-over-year);
86,438 rooms in the final planning stages (down -22.3% YOY) and 163,184 rooms
in the planning stages (down 8.6%). Europe has 106,729 projected room openings
in 2025, including those already opened earlier this year. The top three
markets in the region projected to open more than 3,000 rooms for the year are
London (5,632), Istanbul (3,920) and Dublin (3,197).
For Asia
Pacific’s pipeline, the region has 511,666 rooms in the construction phase (up
4.9%); 47,241 rooms in the final planning stages (down 57.6%); and 396,598 rooms
in the planning stage (up 36.4%). The region is projected to open 228,468 rooms
in 2025, with Shanghai (7,953), Chengdu, China (4,821), Shenzhen, China
(3,946), Kuala Lumpur (3,841), Suzhou, China (3,403) and Bangkok (3,199) as the
leading markets.
For the
Middle East and Africa market (EMEA), 104,572 rooms are in the construction
stage (down 6.7%); 28,875 rooms are in the final planning stage (-21.8%); and
94,056 rooms are in the planning stage (up 17.1%).
The region
is projected to open 50,683 room openings in 2025, mostly focused in the Middle
East. The top markets include Dubai (5,344), Makkah, Saudi Arabia (4,749),
Qatar (3,936), Riyadh, Saudi Arabia (3,485) and Jeddah, Saudi Arabia (3,156).
For North
and South America, 204,217 rooms are in the construction stage (up 1.8%);
301,645 rooms are in the final planning stage (up 4.3%); and 407,254 rooms are
in the planning stage (up 10.1%). The Americas region is projected for 138,909
room openings in 2025. Excluding the U.S., led in projected openings by New
York City and Nashville, leaders include the Dominican Republic (3,543) and
Toronto (1,460).