According to the Q2 2023 United States Construction Pipeline Trend Report by Lodging Econometrics (LE), at the close of the second quarter, the hotel construction pipeline stands at 5,572 projects/660,061 rooms, with projects up 7% year-over-year (YOY) and rooms up 6% YOY.
According to the Q3 2022 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the quarter, the hotel construction pipeline in the region stands at 535 projects/134,897 rooms.
Total global construction pipeline stands at 14,117 projects/2,293,131 rooms, up 5% by projects and 2% by rooms year-over-year (YOY).
The total hotel construction projects in the Middle East stand at 545 projects/140,055 rooms, up 3% by projects year-over-year (YOY).
Analysts report that at the close of the second quarter of 2022, Europe continues to show steady growth in new hotels opening in 2022.
The latest Construction Pipeline Trend Report showed that the total China hotel construction pipeline stands at 3,693 projects/701,974 rooms.
Marriott International leads the U.S. hotel construction pipeline in the recently released Q2 2022 based on Lodging Econometrics.
The total U.S. construction pipeline up 9% Year-Over-Year (YOY) by projects and 4% YOY by rooms at the close of 2022’s second quarter.
China’s total construction pipeline is booming despite growing concerns about the economic slowdown. @LodgingEconomet
The record counts come despite concerns of slower growth throughout the region, shrinking demand for the region’s exports, Brexit uncertainties, and political tensions in many countries. @LodgingEconomet