USA | The United States and China are the two largest hotel markets globally, as their respective regions have a construction boom.
The Americas and Asia Pacific regions, two of the world’s largest hotel markets, have indicated a year-on-year increase in hotel pipeline activity at the end of the second quarter of 2024, according to recent global data collected by CoStar.
In the Americas, construction has added 208,718 extra rooms, at an increase of 8.3 percent. The industry has a further 299,153 rooms that are in the final planning stages, an increase of 6.9 percent. More than 385,000 extra rooms are in the planning focus, an increase of 34.6 percent, resulting in a total of over 893,816 rooms under construction.
The U.S. (157,713) has the most rooms in construction in the region. After the U.S., Mexico (13,301), Canada (8,686) and Brazil (5,948) have the highest number of rooms in construction.
The Asia Pacific region has also seen a significant increase of hotel rooms as well. More than 507,000 rooms are currently under construction, an increase of 4.4 percent. The market also has a total of 91,282 rooms currently in construction, a decrease of 22.9 percent. More than 323,900 rooms are in the planning phase, an increase of 16.5 percent. On a whole, the Asia Pacific region has 918,983 rooms under construction, an increase of 4.5 percent.
China leads the Asia Pacific region in total rooms in construction (319,012), followed by Vietnam (36,521).
Europe has also emerged as a major player in the global hotel market, with over 165,000 rooms currently under construction, 2.4 percent less than the previous results. More than 93,200 rooms are in the final planing phase of construction, a decrease of 20.9 percent, whilst an increase of eight percent (160,651 rooms) are in the planning stage. In total, there are 419,750 hotel rooms under contract in Europe, a decrease of 3.8 percent.
Among countries in the region, Germany (27,302) led in construction activity, closely followed by the U.K. (25,312).
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