New LE Report: Forty-five Percent of the Hotel Projects in Europe’s Total Pipeline are Under Construction
- EDITOR
- May 14, 2024
- 1 min read
Countries in Europe with the greatest number of projects in the pipeline at Q1 are led by the United Kingdom with 321 projects/45,257 rooms. Distantly following are Germany with 180 projects/28,816 rooms, France with 130 projects/14,268 rooms, Portugal with 120 projects/15,020 rooms, and Turkey with 116 projects and a record 18,277 rooms. These five countries account for 51% of the projects and 48% of the rooms in the region’s total pipeline at Q1.
European cities with the largest pipelines by project count at the close of the first quarter are London with 80 projects/14,987 rooms, Istanbul with 51 projects/8,814 rooms, Lisbon with 37 projects/4,349 rooms, Dublin with 27 projects/5,254 rooms, and Dusseldorf with 26 projects/4,798 rooms.
During the first quarter of 2024, 45 new hotels/5,961 rooms opened throughout Europe, with an additional 281 new hotels/39,129 rooms forecast to open in Q2-Q4. LE analysts forecast a total of 326 new hotels/45,090 rooms to open by year-end 2024. Looking ahead, the LE forecast for new openings in Europe will rise with 367 new hotels/52,605 rooms anticipated to open in 2025.
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