London dominates Europe’s construction pipeline

INTERNATIONAL REPORT — Several key cities are driving the hotel development pipeline in Europe through the second second quarter, with London leading the way, according to Lodging Econometrics (LE).

London is the top pipeline market with 80 projects and 14,987 rooms. Istanbul is second with 51 projects and 8,814 rooms, while Lisbon (37 projects), Dublin (27 projects), and Dusseldorf, Germany (26 projects) round out the top five for a combined total of 14,401 rooms.

The capital of England also leads in projects currently under construction with 40 projects and 7,312 rooms. Istanbul is second (31 projects and 5,746 rooms), Dusseldorf in third (15 projects and 3,124 rooms), Paris in fourth (14 projects and 2,152 rooms) and Lisbon in fifth (14 projects and 2,031 room).

Future prospects are also bright for London’s pipeline. The city is also leading in projects in the planning stages with 33 new developments totaling 6,871 rooms scheduled to start within the next 12 months or in the early planning stages. Lisbon is second (19 projects) and Istanbul is third (18 projects), with Dublin and Manchester rounding out the top five.

London rounds out the sweep of categories by also leading in renovation and brand conversion activity with 27 projects and 5,223 rooms in the pipeline. Istanbul, Amsterdam, Mallorca and Paris round out the top five, each with 10-plus projects.  

Looking ahead to new hotel openings in 2024, LE forecasts London to open the most new hotels with (21 hotels and 2,541 rooms), followed by Istanbul (12 hotels and 2,157 rooms), Paris (12 hotels and 2,027 rooms), Lisbon (10 hotels and 892 rooms) and Liverpool (Eight hotels and 1,026 rooms).

PREVIOUS LODGING ECONOMETRIC REPORTS

In early July, we talked about the hottest development markets in Latin America. 

In late June, we talked about why Dallas is still leading the U.S. construction pipeline. 

In mid-June, we discussed that a huge portion of Europe’s pipeline is under construction. 

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 is surging