With substantial volume in the planning phases, the Americas was the only world region to show an increase in overall hotel pipeline activity, according to year-end data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. Construction activity was down in every world region except Asia Pacific. December 2023 (% change in comparison with December 2022):

Europe

In construction: 171,354 (-9.7%); Final Planning: 111,255 (-20.9%); Planning: 178,580 (+16.3%) Total Under Contract: 461,189 (-4.7%) Among countries in the region, Germany (30,046 rooms) led in construction activity followed by the United Kingdom (28,503 rooms).

Asia Pacific

In construction: 486,410 (+2.0%); Final Planning: 111,462 (+2.3%); Planning: 290,699 (-4.8%). Total Under Contract: 888,571 (-0.3%) China leads the Asia Pacific region in total rooms in construction (309,024), followed by Vietnam (36,852).

Middle East and Africa

In construction: 112,128 (-8.6%); Final Planning: 36,912 (-10.2%); Planning: 80,294 (+7.3%). Total Under Contract: 229,334 (-3.9%). Most of the region’s pipeline activity is focused in the Middle East. Saudi Arabia (42,282) and the United Arab Emirates (18,998) show the most rooms in construction.

Americas

In construction: 200,615 (-3.1%); Final Planning: 289,394 (+18.1%); Planning: 370,033 (+30.0%). Total Under Contract: 860,042 (+16.7%). The U.S. holds the majority of rooms in construction in the region. After the U.S., Mexico (12,194), Canada (7,215) and Brazil (5,111) show the highest number of rooms in construction.

Culled: Costargroup

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