Luxury hotels dominate hotel construction pipeline
In the second quarter, the global hotel construction pipeline witnessed a dominant presence of luxury and upscale hotels
The pipeline improved, with a 3% YoY increase in projects and 1% YoY rise in rooms, totaling 14,572 projects and 2,310,238 rooms. These were largely led by luxury, upper upscale, and upper midscale chains, according to the latest global construction pipeline trend report from Lodging Econometrics.
Key takeaways
- Worldwide, 6,154 projects (1,108,498 rooms) were under construction, 3,679 projects (506,760 rooms) were set to start in the next 12 months, and 4,739 projects (694,980 rooms) were in early planning stages;
- Luxury, upper upscale, and upper midscale chains made up 47% of the pipeline. Notably, upper midscale projects comprised 29% of the global pipeline with 4,236 projects and 558,159 rooms;
- Hilton Worldwide, Marriott International, and IHG Hotels & Resorts led the pipeline, collectively accounting for 50% of the global projects.
Get the full report at Lodging Econometrics