Hotel construction activity is down across Europe, the Americas, the Middle East and Africa, and the Asia Pacific region, according to hospitality analytics platform STR.
Asia Pacific came closest to its 2022 comparable, showing only a 0.8% decrease in construction with 476,993 rooms and a 1.9% increase in planning. However, the region saw a 29.6% decrease in final planning.
Go deeper with GlobalData
Among countries in Asia Pacific, China has the most rooms in construction with 299,458, followed by Vietnam which has 36,358.
In Europe, construction, planning and final planning were all down, with construction seeing the biggest decrease at 18.2%. Germany and the UK lead Europe on total rooms in construction.
The picture is more positive for the Middle East and Africa, with planning and final planning both seeing increases of more than 20%. However, hotel construction in the region is down 5.8%.
Most of the region’s pipeline activity is concentrated in the Middle East. Saudi Arabia and the United Arab Emirates lead in construction.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFinally, the Americas showed a mixed picture, with declines in construction and final planning but a 32.2% increase in planning.
The US holds the majority of rooms in construction in the region, followed by Mexico, Canada and Brazil.
