According to the recent Europe hotel construction pipeline trend report from Lodging Econometrics (LE), Europes total construction pipeline rose to 1,871 projects/297,490 rooms in the fourth quarter of 2019, a 19% increase by projects and 22% by rooms, year-over-year (YOY).
Analysts at Lodging Econometrics (LE) state in the 2019 year-end report that the hotel construction pipeline in the Middle East stands at 618 projects/178,384 rooms, compared to 622 projects/181,813 rooms at the end of 2018. The pipeline in the Middle East remains strong as room counts have been over 170,000 in every quarter of the past two years.
Analysts at Lodging Econometrics (LE) report that Chinas total construction pipeline boomed in the fourth quarter of 2019 and closed the quarter at 3,526 projects/643,435 rooms, up 28% by projects and 11% by rooms year-over-year (YOY). At the end of 2019, both projects and rooms in the construction pipeline are at new all-time highs. China has the second largest pipeline in the world.
Analysts at Lodging Econometrics (LE) state that Asia Pacifics total construction pipeline, excluding China, hit a new all-time high at the close of 2019 with 1,926 projects/409,447 rooms. Project counts are up 7%, while room counts are up 8%, year-over-year (YOY).
Lodging Econometrics (LE) has released its year-end Global Construction Pipeline Trend Report, which compiles construction pipeline counts for every country, and city around the world. At the close of 2019, LE analysts state that the total global construction pipeline hit record highs with 15,000 projects/2,454,954 rooms, a 11% increase in projects and an 8% increase in rooms year-over-year (YOY).
Total European hotel transaction volume reached 27.1 billion in 2019. This represents a significant increase of 46% on 2018 and is the highest annual level ever recorded, surpassing the previous peak of 23.7 billion in 2015.
The five largest global hotel chains also rank in the top 10 for room counts, fueled by year-over-year increases in net unit growth, according to STR data.
Hotel values across Europe gained a further 3% in 2019, on the back of similar RevPAR growth on average for all markets in our latest European Hotel Valuation Index.
Real estate has unprecedented momentum and in 2020 several sectors will near top speed.
A strong final quarter drives hotel investment to 13.9% growth in 2019 – The UK remains the largest hotel investment market in the region