The latest Hotel Construction Pipeline Trend Report for Canada from Lodging Econometrics (LE) reveals, at Q1 2024, there are 314 projects/39,628 rooms in the total pipeline. This new record-high in project counts represents an impressive 11% increase in project counts and a 5% increase in room numbers year-over-year (YOY).
The recent U.S. Construction Pipeline Trend Report from Lodging Econometrics (LE) reports that, at the close of the first quarter, the top five markets with the largest hotel construction pipelines are led by Dallas with 185 projects/21,882 rooms, slightly below record-highs recorded at the end of Q4 2023. Next is Atlanta, with an all-time high of 153 projects with 17,929 rooms.
As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.
There are 6,160 projects/1,096,748 rooms currently under construction worldwide at Q423, for a 2% increase by projects YOY.
The region boasts an impressive 11% year-over-year (YOY) increase in projects and a 2% YOY rise in rooms, marking the most substantial growth by projects since Q1 2018.
At year-end, the hotel construction pipeline in Europe includes 755 projects with 115,300 rooms currently under construction, with an additional 418 projects/64,835 rooms scheduled to start construction in the next 12 months.
According to the latest China Construction Pipeline Trend Report from Lodging Econometrics (LE), China's total hotel construction pipeline reached a new all-time high by projects for the second quarter in a row at Q4 2023.
According to the recent Construction Pipeline Trend Report from Lodging Econometrics (LE), the total hotel construction pipeline in the Asia Pacific excluding China (APEC) increased 4% year-over-year (YOY) and closed 2023?s fourth quarter with a record-high 1,977 projects and 402,156 rooms.
According to the Q4 2023 Latin America Construction Pipeline Trend Report from Lodging Econometrics (LE), projects and room counts in the region's total construction pipeline each increased by 11% each year-over-year (YOY) to stand at 594 projects and 97,679 rooms at the close of the quarter.
According to the year-end Lodging Econometrics (LE) Construction Pipeline Trend Report for Canada, the country ended 2023 at 294 projects/38,396 rooms, a mere 11 projects short of the country's peak of 305 projects achieved in Q4 2019. Canada's pipeline is up 10% by projects and 7% by rooms, year-over-year (YOY).