Europe Remains Only World Region with Increased Hotel Construction

Europe Remains Only World Region with Increased Hotel Construction



The U.S. holds the majority of rooms in construction in the region. In addition to the U.S., Mexico (13,721) and Canada (9,325) have the highest number of rooms in construction in the region.

Berlin Tower

Germany (49,027) leads Europe in total hotel rooms in construction



STR;

At the end of Q2 2021, Europe remained the only world region with a year-over-year increase in hotel rooms in construction, according to June pipeline data from STR.

June 2021 (% changes in comparison with June 2020)

Europe

  • In Construction: 237,304 rooms (+7.9%)
  • Final Planning: 177,165 rooms (+13.0%)
  • Planning: 147,712 rooms (-6.4%)

Germany (49,027) and the U.K. (36,444) lead Europe in total rooms in construction.

Asia Pacific

  • In Construction: 476,740 rooms (-2.8%)
  • Final Planning: 181,453 rooms (+8.8%)
  • Planning: 271,268 rooms (+13.6%)

Among countries in the region, China has the most rooms in construction (290,619), followed by Vietnam (31,732).

Middle East & Africa

  • In Construction: 135,740 rooms (-3.6%)
  • Final Planning: 45,313 rooms (-9.0%)
  • Planning: 57,953 rooms (-13.8%)

Saudi Arabia (39,362) and United Arab Emirates (37,954) lead in construction activity.

Americas

  • In Construction: 243,395 rooms (-11.2%)
  • Final Planning: 243,809 rooms (-19.8%)
  • Planning: 297,929 rooms (+25.9%)

The U.S. holds the majority of rooms in construction in the region. In addition to the U.S., Mexico (13,721) and Canada (9,325) have the highest number of rooms in construction in the region.

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Logos, product and company names mentioned are the property of their respective owners.

© 2021 Hotel News Resource



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