Hotel construction across the globe shows a slight uptick from one year ago, according to the recent Global Construction Pipeline Trend Report from Lodging Econometrics (LE). LE tabulates the construction pipeline for 182 countries around the world.
The report shows a total of 11,260 projects and 1,919,370 rooms either currently under construction or in some form of planning. This is a 3% year-over-year increase for both projects and rooms.
Breaking down the total number of projects and rooms further, the report shows 5,232 projects and 986,995 rooms that are currently under construction. This is down 2% year-over-year in terms of projects, but a 1% increase in rooms.
There are 3,396 projects and 489,503 rooms scheduled to start construction within the next 12 months, a 19% increase for projects and a 17% increase for rooms. Finally, the number of projects in early planning is down 2% at 2,632 while the number of rooms in early planning is down 4% at 442,872.
Related Stories
Hotel Facilities | Oct 31, 2022
These three hoteliers make up two-thirds of all new hotel development in the U.S.
With a combined 3,523 projects and 400,490 rooms in the pipeline, Marriott, Hilton, and InterContinental dominate the U.S. hotel construction sector.
Laboratories | Oct 5, 2022
Bigger is better for a maturing life sciences sector
CRB's latest report predicts more diversification and vertical integration in research and production.
Multifamily Housing | May 11, 2022
Kitchen+Bath AMENITIES – Take the survey for a chance at a $50 gift card
MULTIFAMILY DESIGN + CONSTRUCTION is conducting a research study on the use of kitchen and bath products in the $106 billion multifamily construction sector.
Market Data | Apr 14, 2022
FMI 2022 construction spending forecast: 7% growth despite economic turmoil
Growth will be offset by inflation, supply chain snarls, a shortage of workers, project delays, and economic turmoil caused by international events such as the Russia-Ukraine war.
Industrial Facilities | Apr 14, 2022
JLL's take on the race for industrial space
In the previous decade, the inventory of industrial space couldn’t keep up with demand that was driven by the dual surges of the coronavirus and online shopping. Vacancies declined and rents rose. JLL has just published a research report on this sector called “The Race for Industrial Space.” Mehtab Randhawa, JLL’s Americas Head of Industrial Research, shares the highlights of a new report on the industrial sector's growth.
Codes and Standards | Apr 4, 2022
Construction of industrial space continues robust growth
Construction and development of new industrial space in the U.S. remains robust, with all signs pointing to another big year in this market segment
Industry Research | Apr 4, 2022
Nonresidential Construction Spending Drops Slightly in February, Says ABC
National nonresidential construction spending was down 0.1% in February, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau
Reconstruction & Renovation | Mar 28, 2022
Is your firm a reconstruction sector giant?
Is your firm active in the U.S. building reconstruction, renovation, historic preservation, and adaptive reuse markets? We invite you to participate in BD+C's inaugural Reconstruction Market Research Report.
Industry Research | Mar 28, 2022
ABC Construction Backlog Indicator unchanged in February
Associated Builders and Contractors reported today that its Construction Backlog Indicator remained unchanged at 8.0 months in February, according to an ABC member survey conducted Feb. 21 to March 8.
Industry Research | Mar 23, 2022
Architecture Billings Index (ABI) shows the demand for design service continues to grow
Demand for design services in February grew slightly since January, according to a new report today from The American Institute of Architects (AIA).