Hello there, fellow travelers with a love for adventure! Have you caught wind of the electrifying commotion happening in Europe’s hotel world? It’s a scene ablaze with excitement and a frenzy of rejuvenating madness! In a recent report from Lodging Econometrics, Europe’s hotel pipeline was found to be teeming with a staggering 1,680 projects and 249,454 rooms at the close of the second quarter. But here’s the juiciest scoop – renovation and conversion projects hit a record high with 825 projects and 95,519 rooms in the same period.
If you’re curious about the sizzling developments in the European hotel industry, let me tell you, there are currently 755 projects and 117,908 rooms under construction. That’s a whopping 45% of the projects and 47% of the rooms in the pipeline. But wait, there’s more! Another 412 projects with 59,850 rooms are set to begin construction in the next 12 months. And can you believe it – there are 513 projects with 71,696 rooms in the early planning stage. It’s like a grand hotel construction soirée in Europe that’s just getting started!
But that’s not all that’s been brewing in the second quarter – there’s been a substantial surge in new hotel openings. A total of 81 hotels and 10,569 rooms opened their doors, marking an incredible 72% increase compared to the first quarter. The upper upscale, upscale, and upper midscale segments are where all the buzz is happening. The upscale chain scale leads the pack with 358 projects and 55,936 rooms, while the upper midscale segment has 335 projects and 50,566 rooms in the pipeline. And let’s not forget about the upscale segment, which is soaring to new heights with 268 projects and 43,417 rooms – a cool 9% spike in projects year-over-year.
Now, if you’re itching to know which countries are stealing the spotlight in Europe’s construction pipeline, the top five contenders are the United Kingdom, Germany, France, Turkey, and Portugal. These fab five countries account for a whopping 50% of the projects and 47% of the rooms in Europe’s total pipeline. And guess what? They’re expected to be at the forefront of new hotel openings through 2026.
But hold onto your suitcases, because there’s more! The cities with the most extensive hotel pipelines are major tourist hotspots like London, Istanbul, Lisbon, Dublin, and Dusseldorf. It’s as if these cities are caught up in a whirlwind of hotel construction, with projects and rooms aplenty.
But wait, there’s more! The report forecasts a grand total of 330 hotels and 43,935 rooms opening in 2024. And as if that’s not enough, the hotel opening extravaganza is just getting started. The forecast for 2025 shows a whopping 368 new hotels and 52,760 rooms scheduled to open. And for the cherry on top, the newly released forecast for 2026 predicts a jaw-dropping 427 new hotels and 59,606 rooms ready to welcome guests.
So, there you have it, my fellow travelers – a whirlwind of hotel renovations, new openings, and conversions happening across Europe. The hotel industry is evolving and expanding at a breathtaking pace, and the best part is, we can look forward to more thrilling places to stay as we journey through this incredible continent. Here’s to the captivating hotel makeover madness! Cheers!
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