{"id":231273,"date":"2024-01-23T06:15:00","date_gmt":"2024-01-22T23:15:00","guid":{"rendered":"https:\/\/www.ttrweekly.com\/site\/?p=231273"},"modified":"2024-01-22T21:42:33","modified_gmt":"2024-01-22T14:42:33","slug":"costar-figures-hotel-construction-trends","status":"publish","type":"post","link":"https:\/\/www.ttrweekly.com\/site\/2024\/01\/costar-figures-hotel-construction-trends\/","title":{"rendered":"CoStar figures hotel construction trends"},"content":{"rendered":"\n

SINGAPORE, 23 January 2024: With substantial volume in the planning phases, the Americas was the only world region to show an increase in overall hotel pipeline activity, according to year-end data from CoStar<\/a>.<\/p>\n\n\n\n

CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.<\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

Construction activity was down in every world region except Asia Pacific. <\/p>\n\n\n\n

December 2023 (% change in comparison with December 2022):<\/strong><\/p>\n\n\n\n

Europe<\/strong><\/p>\n\n\n\n

In construction: 171,354 (-9.7%)
Final Planning: 111,255 (-20.9%)
Planning: 178,580 (+16.3%)
Total Under Contract: 461,189 (-4.7%)
Among countries in the region, Germany (30,046 rooms) led in construction activity, followed by the UK (28,503 rooms).<\/p>\n\n\n\n

Asia Pacific<\/strong><\/p>\n\n\n\n

In construction: 486,410 (+2.0%)
Final Planning: 111,462 (+2.3%)
Planning: 290,699 (-4.8%)
Total Under Contract: 888,571 (-0.3%)
China leads the Asia Pacific region in total rooms in construction (309,024), followed by Vietnam (36,852).<\/p>\n\n\n\n

Middle East & Africa<\/strong><\/p>\n\n\n\n

In construction: 112,128 (-8.6%)
Final Planning: 36,912 (-10.2%)
Planning: 80,294 (+7.3%)
Total Under Contract: 229,334 (-3.9%)
Most of the region\u2019s pipeline activity is focused on the Middle East. Saudi Arabia (42,282) and the United Arab Emirates (18,998) show the most rooms in construction.<\/p>\n\n\n\n

Americas<\/strong><\/p>\n\n\n\n

In construction: 200,615 (-3.1%)
Final Planning: 289,394 (+18.1%)
Planning: 370,033 (+30.0%)
Total Under Contract: 860,042 (+16.7%)
The US holds the majority of rooms in construction in the region, followed by Mexico (12,194), Canada (7,215), and Brazil (5,111).<\/p>\n\n\n\n

For more information visit www.costargroup.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SINGAPORE, 23 January 2024: With substantial volume in the planning phases, the Americas was the only world region to show an increase in overall hotel pipeline activity, according to year-end data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. Construction activity was down in […]<\/p>\n","protected":false},"author":22,"featured_media":231312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[640,246],"tags":[],"class_list":{"0":"post-231273","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hotels","8":"category-singapore"},"yoast_head":"\nCoStar figures hotel construction trends - TTR Weekly<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ttrweekly.com\/site\/2024\/01\/costar-figures-hotel-construction-trends\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CoStar figures hotel construction trends - TTR Weekly\" \/>\n<meta property=\"og:description\" content=\"SINGAPORE, 23 January 2024: With substantial volume in the planning phases, the Americas was the only world region to show an increase in overall hotel pipeline activity, according to year-end data from CoStar. 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