SINGAPORE, 24 April 2023: Four of the world’s regions showed a year-over-year decline in hotel construction activity, with the Asia Pacific region coming closest to its 2022 comparable, according to March 2023 pipeline data from STR.
March 2023 (% changes in comparison with March 2022)
Europe
- In Construction: 184,851 rooms (-18.2%)
- Final Planning: 133,580 rooms (-15.9%)
- Planning: 156,095 rooms (-5.4%)
- Total Under Contract: 474,526 (-13.7%)
Germany (34,030) and the UK (29,160) lead Europe in total rooms in construction.
Asia Pacific
- In Construction: 476,993 rooms (-0.8%)
- Final Planning: 105,435 rooms (-29.6%)
- Planning: 322,507 (+1.9%)
- Total Under Contract: 904,935 rooms (-4.4%)
Among countries in the region, China has the most rooms in construction (299,458), followed by Vietnam (36,358).
Middle East & Africa
- In Construction: 119,505 rooms (-5.8%)
- Final Planning: 45,529 rooms (+20.4%)
- Planning: 84,116 rooms (+21.2%)
- Total Under Contract: 249,150 (+6.4%)
Most of the region’s pipeline activity is focused on the Middle East. Saudi Arabia (42,033) and the United Arab Emirates (22,324) lead in construction activity.
Americas
- In Construction: 197,844 rooms (-4.5%)
- Final Planning: 278,383 rooms (-19.6%)
- Planning: 277,598 rooms (+32.2%)
- Total Under Contract: 753,825 (-1.2%)
The US holds the majority of rooms in construction in the region. The US, Mexico (10,803), Canada (5,899) and Brazil (5,549) show the highest number of rooms in construction.
(Source: STR)
