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LE: Europe’s Q1 construction pipeline reaches 1.7K projects

Hotel Business

According to the Q1 2024 Hotel Construction Pipeline Trend Report for Europe from Lodging Econometrics (LE), the region’s total pipeline stands at 1,705 projects/253,777 rooms at the close of the first quarter. Upper-midscale projects closed the first quarter with 305 projects/46,020 rooms. with 321 projects/45,257 rooms.

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LE: China’s Q1 construction pipeline grows

Hotel Business

Lodging Econometrics’ (LE’s) Q1 2024 Hotel Construction Pipeline Trend Report reveals steady growth in China’s construction pipeline, with 3,775 projects encompassing 695,212 rooms. At the close of the first quarter, China has 2,691 projects and a record-high 488,560 rooms under construction.

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LE: Canada’s construction pipeline closes 2023 with a 10% YOY increase

Hotel Business

According to the year-end Lodging Econometrics (LE) Construction Pipeline Trend Report for Canada, the country ended 2023 at 294 projects/38,396 rooms, a mere 11 projects short of the country’s peak of 305 projects achieved in Q4 2019. In 2024, LE forecasts that 29 new hotels/3,698 rooms will open.

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LE: Q1 Latin America construction pipeline up 11%

Hotel Business

The latest Latin America Construction Pipeline Trend Report by Lodging Econometrics (LE) reveals robust growth in the region’s hotel construction sector. At the end of the first quarter, there are 249 projects/47,393 rooms under construction in Latin America, reflecting a 10% YOY increase in projects and an 18% increase in rooms.

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CBRE forecasts RevPAR growth to improve in H2

Hotel Business

The company’s latest forecast projects a 2% increase in RevPAR growth for 2024, down from the 3% estimated in February. CBRE forecasts GDP growth of 2.3% CBRE forecasts GDP growth of 2.3% ” CBRE expects muted supply growth in the medium term due to elevated financing and construction costs. .”

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LE: Middle East Q1 construction pipeline rises

Hotel Business

The Q1 2024 Hotel Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE) reveals, at Q1, the hotel construction pipeline in the region increased to 612 projects/144,222 rooms, up 5% by projects year-over-year (YOY). At Q1 2024, projects currently under construction stand at 302 projects/80,589 rooms.

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LE: APEC construction pipeline breaks all-time record

Hotel Business

According to the Q1 2024 Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), the total pipeline in the Asia-Pacific region, excluding China, (APEC) reached a record-breaking project total of 2,021 projects/402,312 rooms. LE is forecasting a total of 383 new hotels and 73,854 rooms to open by year-end.