Two of the world regions, the Americas and Asia Pacific, showed a year-over-year increase in hotel pipeline activity at the end of the second quarter, according to June 2024 data from CoStar.

CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

June 2024 (% change in comparison with June 2023)

Europe

• In construction: 165,858 rooms (-2.4%)

• Final Planning: 93,241 rooms (-20.9%)

• Planning: 160,651 rooms (+8.0%)

• Total Under Contract: 419,750 rooms (-3.8%)

Among countries in the region, Germany (27,302) led in construction activity, closely followed by the UK (25,312).

Asia Pacific

• In construction: 503,770 rooms (+4.4%)

• Final Planning: 91,282 rooms (-22.9%)

• Planning: 323,931 rooms (+16.5%)

• Total Under Contract: 918,983 rooms (+4.5%)

China leads the Asia Pacific region in total rooms in construction (319,012), followed by Vietnam (36,521).

Middle East and Africa

• In construction: 109,005 rooms (-5.6%)

• Final Planning: 33,040 rooms (-23.8%)

• Planning: 83,020 rooms (+9.2%)

• Total Under Contract: 225,065 rooms (-4.2%)

Most of the region’s pipeline activity is focused in the Middle East. Saudi Arabia (42,786) and the United Arab Emirates (18,933) have the most rooms in construction.

Americas

• In construction: 208,718 rooms (+8.3%)

• Final Planning: 299,153 rooms (+6.9%)

• Planning: 385,945 rooms (+34.6%)

• Total Under Contract: 893,816 rooms (+17.8%)

The US (157,713) has the most rooms in construction in the region, followed by Mexico (13,301), Canada (8,686) and Brazil (5,948), which have the highest number of rooms in construction. – TradeArabia News Service