U.S. Tops Global Hotel Pipeline with a Record 6,378 Projects
THE U.S. LEADS global hotel construction with 6,378 projects and 746,986 rooms, up 7 percent and 8 percent year-over-year, followed by China with 3,779 projects and 681,915 rooms, according to Lodging Econometrics. Globally, the pipeline reached a record 15,820 projects and 2,438,189 rooms, up 4 percent in projects and 3 percent in rooms year-over-year.
LE’s Q4 2024 Global Hotel Construction Pipeline Trend Report shows the U.S. holds 40 percent of the global pipeline, while China accounts for 24 percent, totaling 64 percent of projects worldwide.
Globally, 6,231 projects with 1,098,620 rooms are under construction, up 1 percent year-over-year, the report found. Projects set to begin in the next 12 months total 3,872 projects and 539,054 rooms, also up 1 percent. Early planning projects hit record highs at 5,717 projects and 800,515 rooms, increasing 10 percent and 9 percent year-over-year.
India also set record highs with 693 projects and 87,512 rooms, up 35 percent and 43 percent year-over-year, LE said. Canada follows with 333 projects and 43,413 rooms, while Saudi Arabia has 316 projects and 83,275 rooms.
U.S. markets have set new records, with Dallas leading at 204 projects and 23,669 rooms, followed by Atlanta with 168 projects and 19,431 rooms. Chengdu, China, ranks third with 141 projects and 25,180 rooms, followed by Shanghai with 133 projects and 24,529 rooms. Nashville hit a record 130 projects and 17,029 rooms.
In 2024, around 2,226 hotels opened worldwide, adding 317,608 rooms, a 7 percent increase year-over-year. Of these, 486 hotels with 74,048 rooms opened in the fourth quarter. Meanwhile, LE analysts forecast 2,815 hotels with 429,639 rooms opening in 2025, followed by 2,820 hotels with 419,151 rooms in 2026.
In January, LE reported U.S. hotel construction hit a fourth-quarter 2024 record with 6,378 projects and 746,986 rooms, up 7 percent and 8 percent year-over-year.
