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September 2024 (% change compared to September 2023):
Europe
Under construction: 163,135 rooms (-1.0%)
Final planning: 87,779 rooms (-21.9%)
Planning: 162,275 rooms (+1.7%)
Total under contract: 413,189 rooms (-5.4%)
Among countries in the region, Germany (27,175) led construction activity, closely followed by the United Kingdom (24,733).
Asia Pacific
Under construction: 509,167 rooms (+1.7%)
Final planning: 55,448 rooms (-50.1%)
Planning: 389,689 rooms (+43.1%)
Total under contract: 954,304 rooms (+7.9%)
China leads the Asia Pacific region in terms of total rooms under construction (322,440), followed by Vietnam (35,810).
Middle East & Africa
Under construction: 110,229 rooms (-4.3%)
Final planning: 30,955 rooms (+3.3%)
Planning: 85,178 rooms (+7.3%)
Total under contract: 226,362 rooms (+0.8%)
The majority of the region’s pipeline activity is concentrated in the Middle East, with Saudi Arabia (41,828) and the United Arab Emirates (18,959) having the most rooms under construction.
Americas
Under construction: 209,312 rooms (+9.5%)
Final planning: 305,199 rooms (+10.6%)
Planning: 387,418 rooms (+36.1%)
Total under contract: 901,929 rooms (+20.0%)
The United States (157,253) accounts for the majority of rooms under construction in the region. After the United States, Mexico (13,986), Canada (9,125) and Brazil (5,964) have the highest number of rooms under construction.
Source: COSTAR GROUP, INC.