The number of
projects in the global hotel construction pipeline at the end of 2023 reached
nearly 15,200, up 7 percent year over year and a record high, according to a
new Lodging Econometrics report.
Hotel rooms
in the global development pipeline totaled nearly 2.4 million, up 3 percent
year over year.
The United
States is the country most represented in the hotel pipeline at the end of the fourth quarter,
with 5,964 projects totaling nearly 694,000 rooms, according to Lodging
Econometrics. China followed with 3,788 projects totaling nearly 692,000 rooms.
The research firm recorded 514 projects in India with more than 61,000 rooms;
322 projects in the United Kingdom's pipeline with nearly 44,000 rooms. Saudi
Arabia has 300 projects totaling nearly 73,000 rooms.
Dallas and Atlanta were the cities with the most
projects in the hotel pipeline at the end of the fourth quarter, followed by
Chengdu, China, with 148 projects totaling nearly 30,000 rooms.
Last year
1,978 hotels opened throughout the world, totaling nearly 293,000 rooms,
according to Lodging Econometrics, which projects 2024 growth of 2,550 hotels
totaling nearly 390,000 rooms and 2025 growth of 2,804 hotels with more than
430,000 rooms.
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