The number of hotel rooms in construction in Central and South America decreased 9% in October to 20,368.
In October, the number of hotel rooms in construction in the Caribbean and Mexico regions rose 16.8% to 30,809.
In October, the Middle East reported a 5.7% year-over-year decrease in the number of hotel rooms in construction. Africa reported a 4% decrease in rooms in construction.
Europe reported 205,383 hotel rooms in construction in October, a 44.3% year-over-year increase.
In October, the Asia/Pacific region reported 2,039 hotel projects with a total of 450,231 rooms in construction.
The number of U.S. hotel rooms in construction rose 5.5% year over year in October to 205,299.
The UK remains the largest hotel investment market in the region
At the close of the third quarter of 2019, analysts at Lodging Econometrics (LE) report that the total construction pipeline in Canada soared to an all-time high with 289 projects/38,453 rooms. Construction pipeline projects are up 17% and rooms are up a remarkable 28% year-over-year (YOY).
Leveraging its innovation centers and neighborhoods, the city is rising in the ranks.
Q3 saw nearly $360 million of hotel transactions across the country, bringing the year-to-date total to $1.25 billion. Download the latest INNvestment Canada Hotel Report which includes a Hotel Real Estate Debt Update by CFO Capital.