Global Hotel Construction Pipeline About to Burst

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Rob

Lodgings Econometrics's latest Global Hotel Construction Pipeline Trend Report states that in Q4 of 2021, the global waiting list stands at 13,770 building projects, accounting for 2,304,386 rooms. This number seems massive but only represents less than 1% of similar reports before the pandemic.

Construction companies have 6,101 projects open. They expect to break ground on 3,547 more projects in the next 12 months. Hotel renovations represent a significant part of this report, standing at 1,448 projects, the highest number on record for the report. Hotels intend to maximize on this time of limited travel to retrofit and convert their properties, hoping to ready them for increased tourism during the peak travel season.

The United States takes the top spot with a project count of 4,814 (581,953 rooms). China hit an all-time high at 3,693 projects (700,567 rooms). The United States accounts for 35% of all global hotel construction; China accounts for 27%. The United Kingdom, Indonesia, and Germany follow behind the USA and China.

Cities that top the charts include Dallas, TX (152 projects), Chengdu, China (144 projects), and Atlanta, GA (133 projects).

Top building companies include (from largest to most minor contributors) Marriott International, Hilton Worldwide, InterContinental Hotels Group, and AccorHotels. In addition, 469 new properties opened up in Q4 of 2021; this represents 76,363 rooms.

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