WASHINGTON – 24 October 2024 – Europe is the only world region with lower hotel pipeline activity year over year, according to September 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
September 2024 (% change in comparison with September 2023):
Europe
In construction: 163,135 rooms (-1.0%)
Among countries in the region, Germany (27,175) led in construction activity, closely followed by the U.K. (24,733).
Asia Pacific
China leads the Asia Pacific region in total rooms in construction (322,440), followed by Vietnam (35,810).
Middle East & Africa
Most of the region’s pipeline activity is focused in the Middle East. Saudi Arabia (41,828) and the United Arab Emirates (18,959) have the most rooms in construction.
Americas
The U.S. (157,253) holds the majority of rooms in construction in the region. After the U.S., Mexico (13,986), Canada (9,125) and Brazil (5,964) show the highest number of rooms in construction.
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