ΔΙΕΘΝΗΣ ΕΛΛΗΝΙΚΗ ΗΛΕΚΤΡΟΝΙΚΗ ΕΦΗΜΕΡΙΔΑ ΠΟΙΚΙΛΗΣ ΥΛΗΣ - ΕΔΡΑ: ΑΘΗΝΑ

Ει βούλει καλώς ακούειν, μάθε καλώς λέγειν, μαθών δε καλώς λέγειν, πειρώ καλώς πράττειν, και ούτω καρπώση το καλώς ακούειν. (Επίκτητος)

(Αν θέλεις να σε επαινούν, μάθε πρώτα να λες καλά λόγια, και αφού μάθεις να λες καλά λόγια, να κάνεις καλές πράξεις, και τότε θα ακούς καλά λόγια για εσένα).

Παρασκευή 16 Αυγούστου 2024

LE: More than 1K new hotels to open in Europe by 2026

 

In the Q2 2024 Europe Hotel Construction Pipeline Trend Report from, analysts report the region’s total pipeline stands at 1,680 projects/249,454 rooms at the quarter’s close.

Hotel projects currently under construction in Europe at Q2 stand at 755 projects/117,908 rooms, representing 45% of the projects and 47% of the rooms in the total pipeline. Projects planned to start construction in the next 12 months account for 412 projects/59,850 rooms, making up 25% of the projects and 24% of the rooms. Projects in the early planning stage comprise 513 projects/71,696 rooms, accounting for 31% of the projects and 29% of the rooms in the total pipeline.

At Q2, most pipeline projects in Europe are concentrated in the upper-upscale, upscale and upper-midscale chain scales. The upscale chain scale leads with 358 projects/55,936 rooms, accounting for 21% of the pipeline. The upper-midscale segment follows closely with 335 projects/50,566 rooms, representing 20% of the pipeline. Upper-upscale projects account for 16% of the total projects, reaching a record-high 268 projects with 43,417 rooms and showing a 9% increase in projects year-over-year. Notably, renovation and conversion projects in Europe reached an all-time high of 825 projects with 95,519 rooms in the second quarter.

The top countries in Europe’s construction pipeline are the U.K. (306 projects/43,515 rooms), Germany (178 projects/28,637 rooms), France (120 projects/12,831 rooms), Turkey (117 projects/17,856 rooms) and Portugal (114 projects/14,247 rooms). These five countries combined account for 50% of the projects and 47% of the rooms in Europe’s total pipeline and are expected to lead in new hotel openings through 2026.

The cities with the largest pipelines are London (76 projects/14,954 rooms), Istanbul (50 projects/8,397 rooms), Lisbon (36 projects/4,425 rooms), Dublin (26 projects/5,012 rooms) and Dusseldorf (24 projects/4,448 rooms).

Europe experienced significant growth in new hotel openings during the second quarter with 81 hotels and 10,569 rooms opening, a 72% increase compared to the first quarter. In total, 128 new hotels with 16,829 rooms opened throughout Europe in the first and second quarters. LE analysts forecast an additional 202 new hotels with 27,106 rooms to open in the third and fourth quarters, bringing the total forecast for new openings in 2024 to 330 hotels with 43,935 rooms.

As a result of the number of hotel projects currently under construction in Europe, the LE forecast for new hotel openings will continue to climb in the coming years. Looking ahead, LE predicts continued growth in new hotel openings, with 368 new hotels/52,760 rooms scheduled to open in 2025. The newly released new hotel openings forecast for 2026 shows a further increase, with 427 new hotels/59,606 rooms expected to open.


Tags:  Europe, Lodging Econometrics (LE)