Europe Hotel Construction Pipeline Booming With 22% YOY Growth and Middle East Pipeline Up With 11% YOY Growth
February 26, 2018 8:34am
February 26, 2018 – PORTSMOUTH, NH – In line with its surging economic recovery, a recent Hotel Construction Pipeline Trend Report for Europe states that the Total Pipeline is booming with 1,316 Projects/205,650 Rooms, up 22% by projects Year-Over-Year (YOY) according to Lodging Econometrics (LE).
There are 636 Projects/103,736 Rooms Under Construction, up 19% by projects YOY. Projects Scheduled to Start Construction in the Next 12 Months are at 412 Projects/63,815 Rooms, up 45%, while projects in Early Planning at 268 Projects/38,099 Rooms are up by 2%.
The top countries in the Europe Construction Pipeline are: United Kingdom with 245 Projects/37,108 Rooms, Germany with 210 Projects/39,330 Rooms, France with 122 Projects/15,318 Rooms and Russia with 87 Projects/16,653 Rooms. Cities in Europe with the largest pipelines are: London with 82 Projects/14,458 Rooms, Paris with 37 Projects/6,747 Rooms, Istanbul with 31 Projects/5,620 Rooms and both with 28 projects, Frankfurt with 6,133 rooms and Munich with 5,358 rooms.
The top hotel companies in Europe’s Construction Pipeline are: AccorHotels with 215 Projects/27,876 Rooms, Marriott International with 187 Projects/31,977 Rooms, Hilton Worldwide with 177 Projects/27,709 Rooms and InterContinental Hotels Group (IHG) with 141 Projects/24,128 Rooms. The largest brand in the Pipeline for each of the these companies are: Accor’s Ibis Styles with 50 Projects/6,437 Rooms, Marriott’s Moxy with 60 Projects/10,752 Rooms, Hilton’s Hampton Inn & Suites with 69 Projects/10,456 Rooms and IHG’s Holiday Inn Express with 63 Projects/10,028 Rooms.
Analysts at Lodging Econometrics (LE) report that the Construction Pipeline for the Middle East is up significantly. The Total Pipeline has 573 Projects/165,938 Rooms, and is up 11% by projects Year-Over-Year (YOY)
There are 348 Projects/109,027 Rooms Under Construction, up 8% by projects YOY. Those Scheduled to Start Construction in the Next 12 Months are at 108 Projects/28,274 Rooms, up 9%, while projects in Early Planning at 117 Projects/28,637 Rooms are up 24%.
The top hotel companies in the Middle East’s Construction Pipeline are: Marriott International 96 Projects/22,559 Rooms, Hilton Worldwide with 92 Projects/25,303 Rooms, and AccorHotels with 83 Projects/26,206 Rooms. The largest brand in the Pipeline for each of the these companies are: Marriott’s Courtyard with 20 Projects/4,218 Rooms, Hilton’s full-service hotel with 29 Projects/10,345 Rooms and Accor’s Novotel with 14 Projects/3,870 Rooms.
The top countries in the Middle East Construction Pipeline are: Saudi Arabia with 202 Projects/70,992 Rooms, United Arab Emirates with 191 Projects/54,946 Rooms and Qatar with 60 Projects/14,053 Rooms. Cities in the Middle East with the largest pipelines are: Dubai, UAE with 143 Projects/40,631 Rooms, Doha, Qatar with 56 Projects/12,426 Rooms and Riyadh, Saudi Arabia with 55 Projects/10,623 Rooms.
Tags: lodging econometrics,
hotel construction pipeline,
europe hotel construction pipeline
Lodging Econometrics (LE) is the lodging industry’s leading consulting partner for global real estate intelligence. Combining unparalleled industry experience, a real-time pulse on market trends and extensive knowledge of key decision-makers, LE delivers actionable insights that turn their clients’ business goals into timely opportunities.
Contact: Emily Dennison
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