HENDERSONVILLE, Tenn. — The four world regions each showed a year-over-year decline in hotel construction activity, with Asia Pacific coming closest to its 2022 comparable, according to March 2023 pipeline data from STR.
In comparison to March 2022, Europe has 184,851 rooms in construction (down 18.2 per cent); 133,580 rooms in the final planning stage (down 15.9 per cent); 156,095 rooms in the planning stage (down 5.4 per cent); and 474,526 total rooms under contract (down 13.7 per cent). Germany (34,030) and the U.K. (29,160) lead Europe in total rooms in construction.
The Asia Pacific regions has 476,993 rooms in construction (down 0.8 per cent); 105,435 rooms in the final planning stage (down 29.6 per cent); 322,507 rooms in the planning stage (up 1.9 per cent); and 904,935 total rooms under contract (down 4.4 per cent). Among countries in the region, China has the most rooms in construction (299,458), followed by Vietnam (36,358).
In the Middle East & Africa, there are 199,505 rooms in construction (down 5.8 per cent); 45,529 rooms in the final planning stage (up 20.4 per cent); 84,116 rooms in the planning stage (up 21.2 per cent); and 249,150 total rooms under contract (up 6.4 per cent). Most of the region’s pipeline activity is focused in Saudi Arabia (42,033) and the U.A.E. (22,324).
Finally, the Americas have 197,844 rooms in construction (down 4.5 per cent); 278,383 rooms in the final planning stage (down 19.6 per cent); 277,598 rooms in the planning stage (up 32.2 per cent); and 753,825 total rooms under contract (down 1.2 per cent). The U.S. holds the majority of rooms, followed by Mexico (10,803), Canada (5,899) and Brazil (5,549).
