According to industry data specialist Lodging Econometrics, the scale of hotel development globally has reached a “record high”, with nearly 16,000 new properties in the pipeline, adding nearly 2.5 million rooms if they all go ahead.
Currently around 6,250 projects are under construction adding just over 1 million rooms worldwide.
Europe accounts for 10.6%, with just under half already being built; the US and China dominate the list of the countries with the highest number of new hotel projects, 64% of the total projects worldwid, followed by India, Saudi Arabia and Canada.
In Europe, the UK leads the way with 282 hotel developments, London highest with 79 projects in the pipeline.
