Europe has experienced a 25percent project increase year-over-year (YOY), according to the latest Europe Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE). The pipeline currently comprises 1,186 projects and 185,799 guestrooms.
Projects and guestrooms under construction are up 32 percent YOY with 559 projects and 94,170 guestrooms. Projects scheduled to start construction in the next 12 months increased 70 percent YOY, with 401 projects and 58,646 guestrooms. A total of 226 projects and 32,983 guestrooms make up projects in the early planning stages—a 23 percent drop YOY.
AccorHotels boasts the most hotel real estate in Europe, with 201 projects and 24,593 guestrooms. Hilton Worldwide and Marriott International round out the top three with 166 projects and 26,269 guestrooms, and 165 projects and 28,758 guestrooms, respectively. Accor’s Ibis Styles brand holds a portfolio of 47 projects and 5,693 guestrooms. Hilton’s Hampton Inn & Suites totals 69 projects and 10,527 guestrooms, while Marriott’s Moxy brand has 50 projects and 9,461 guestrooms across the continent.
The UK leads European hotel development with 230 projects and 35,452 guestrooms, while Germany and France follow with 186 projects and 36,556 guestrooms, and 109 projects and 14,147 guestrooms, respectively. London also sits atop the list of European cities with the largest pipelines with 83 projects and 15,029 guestrooms. Paris (39 projects and 7,131 guestrooms) and Moscow (30 projects and 5,982 guestrooms) make up the remainder of the top three.
