Europe sees increase in new hotel projects
Major global hotel companies are moving forward with their expansion plans in Europe despite economic worries
Data from industry analyst Lodging Econometrics (LE) reveals that there were just over 1,700 hotels in the construction “pipeline” across Europe at the end of 2022. These projects would add a total of 261,000 rooms to the continent’s stock.
“Despite slowed economic growth throughout the region in 2022, Europe remains the most popular tourist destination in the world, with six of the top ten most visited international tourist destinations located in the region,” said LE in its analysis of the market.
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