WASHINGTON —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. Construction activity was down in every world region except Asia Pacific.
December 2023
Percentage change in comparison with December 2022:
Europe
- In construction: 171,354 (down 9.7 percent)
- Final Planning: 111,255 (down 20.9 percent)
- Planning: 178,580 (up 16.3 percent)
- Total Under Contract: 461,189 (down 4.7 percent)
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 (up 2.0 percent)
- Final Planning: 111,462 (up 2.3 percent)
- Planning: 290,699 (down 4.8 percent)
- Total Under Contract: 888,571 (down 0.3 percent)
China leads the Asia Pacific region in total rooms in construction (309,024), followed by Vietnam (36,852).
Middle East & Africa
- In construction: 112,128 (down 8.6 percent)
- Final Planning: 36,912 (down 10.2 percent)
- Planning: 80,294 (up 7.3 percent)
- Total Under Contract: 229,334 (down 3.9 percent)
Most of the region’s pipeline activity is focused on 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 (down 3.1 percent)
- Final Planning: 289,394 (up 18.1 percent)
- Planning: 370,033 (up 30.0 percent)
- Total Under Contract: 860,042 (up 16.7 percent)
The United States holds the majority of rooms in construction in the region. After the United States, Mexico (12,194), Canada (7,215), and Brazil (5,111) show the highest number of rooms in construction.
