Lodging Econometrics’ (LE’s) Q4 2025 Global Hotel Construction Pipeline Trend Report found the global hotel construction pipeline reached a new all-time high project count with 15,922 projects (2,437,354 rooms), a 1 percent increase in projects year-over-year (YOY).
There were 6,140 projects (1,058,945 rooms) currently under construction worldwide at the end of the fourth quarter of 2025. Projects scheduled to start construction anytime in the next 12 months stood at 3,845 projects (553,140 rooms), up 3 percent by rooms YOY. Projects in the early planning stage reached record highs, standing at 5,937 projects (825,269 rooms), showing significant growth with a 4 percent increase in projects and a 3 percent increase in rooms YOY.
The pipeline for the luxury chain scale reached record highs with 1,328 projects (252,544 rooms), up 8 percent by projects and 4 percent by rooms YOY. The upper upscale chain scale also achieved record highs with 1,883 projects (391,391 rooms), increasing 9 percent by projects and 4 percent by rooms YOY. The top two chain scales by project count, upscale and upper midscale combined, totaled 8,358 projects (1,227,133 rooms), up 1 percent by both projects and rooms YOY.
Top Countries and Cities
The top countries by project count continued to be led by the United States with 6,146 projects (720,089 rooms). China followed with 3,608 projects (644,938 rooms). The United States represented 39 percent of the projects in the total global pipeline, while China accounted for 23 percent. Sixty-two percent of the projects in the total global pipeline were concentrated within these two countries. Notable growth was seen in India, which reached record highs with 906 projects (118,334 rooms), showing increases of 31 percent by projects and 35 percent by rooms YOY. Saudi Arabia also achieved record highs with 394 projects (106,521 rooms), up 25 percent by projects and 28 percent by rooms YOY.
The cities with the greatest number of projects in the hotel construction pipeline were led by Dallas, Texas, with 193 projects (23,720 rooms). Atlanta, Georgia, followed with 159 projects (17,804 rooms). Next were the international cities of Chengdu, which ranked third with 136 projects (24,216 rooms), followed by Guangzhou with 126 projects/25,329 rooms, and Phoenix, Arizona, which rounded out the top five with 124 projects (16,303 rooms).
Additional Findings
Globally, the conversion pipeline reached record highs with 2,815 projects (341,006 rooms), up 13 percent by projects and 14 percent by rooms YOY. Combined hotel renovations and conversions also achieved record highs, standing at 3,777 projects (540,459 rooms), up 9 percent by projects and 10 percent by rooms YOY.
Regional pipeline project record counts were achieved by the Asia Pacific, excluding China, region with 2,323 projects (433,241 rooms), up 11 percent by projects and 5 percent by rooms YOY, then the Middle East with 710 projects (176,402 rooms), up 15 percent by projects and 13 percent by rooms YOY; and Africa with 312 projects (47,395 rooms), up 11 percent by projects and 9 percent by rooms YOY.
During 2025, 2,371 new hotels opened worldwide, accounting for 325,985 rooms. LE analysts forecast 2,617 new hotels (389,175 rooms) to open in 2026, followed by 2,630 new hotels (384,955 rooms) to open in 2027.
