The
latest data from Lodging Econometrics shows that more than 1,700 projects and 253,000
rooms in Europe’s pipeline, which is slightly off peak numbers from a year ago.
INTERNATIONAL REPORT — A significant portion
of Europe’s hotel pipeline is in the construction phase, according to the latest
data from Lodging Econometrics.
“The new construction pipeline in Europe is
very mature with 45% of projects under construction,” said Bruce Ford, senior vice president and director
of global business development for LE. “Going
forward, more conversions will grow rapidly as broader hospitality investment
grows in the region.”
Through the end of the first quarter, there
are 1,705 projects and 253,777 rooms in Europe’s hotel construction pipeline.
There are 762 projects and 117,815 rooms in the under-construction phase, while
there are 411 projects and 60,356 rooms scheduled to start construction within
the next 12 months. In addition, there are 532 projects and 75,606 rooms are in
the early planning phase, which is slightly below the record-high number in the
first quarter of 2023.
Renovations and conversion continue near record
highs in Europe through the first quarter with 542 projects and 74,142 rooms
combined. That number is slightly below its peak of 585 projects and 80,760
rooms of renovation and conversion in the first quarter of 2023.
There were 45 new hotels (and 5,961) open in Europe
during the first quarter. LE expects an additional 281 hotels and 39,129 rooms to
open the rest of the year for a total of 326 hotels and 45,090 rooms.
LE expects more new hotels to open in 2025,
with 367 new hotels and 52,605 rooms projected to open.
PREVIOUS LODGING ECONOMETRIC REPORTS
In late May, we
discussed the pipeline in APEC (Asia Pacific excluding China).
In mid-May, we discussed the booming pipeline
in Latin America.
In mid-May, we discussed the hotel
construction pipeline in Canada.
Earlier in May, we discussed why the U.S.
hotel construction pipeline was surging.