SHERIDAN, WYOMING – Feb. 20, 2025 – The global hotel construction pipeline continues its impressive growth, reaching a new all-time high project count, according to the Q4 2024 Global Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE). This surge in development signals a robust and expanding hospitality industry worldwide.
Record Project Numbers and Room Growth
The latest report reveals a remarkable 15,820 projects/2,438,189 rooms currently in the global pipeline. This represents a 4% increase in projects and a 3% increase in rooms compared to the same period last year. "The global hotel construction pipeline continues its upward trajectory, reaching a new all-time high project count with 15,820 projects/2,438,189 rooms, a 4% increase in projects and a 3% increase in rooms year-over-year (YOY)," the report states.
Construction Activity and Future Projections
Currently, 6,231 projects/1,098,620 rooms are under construction globally, showing a 1% increase in projects YOY. Looking ahead, projects scheduled to begin construction within the next 12 months total 3,872 projects/539,054 rooms, also up 1% by projects YOY. Early planning stages are also experiencing significant growth, reaching record highs with 5,717 projects/800,515 rooms, a 10% increase in projects and a 9% increase in rooms YOY.
Leading Countries in Hotel Development
The United States continues to dominate the global hotel construction landscape, achieving a new all-time high project count of 6,378 projects/746,986 rooms. This represents a substantial 7% and 8% increase in projects and rooms, respectively, YOY. "The top countries by project count continue to be led by the U.S., which reached a new all-time high project count of 6,378 projects/746,986 rooms, up 7% and 8%, respectively, YOY," the report highlights. China holds the second position with 3,779 projects/681,915 rooms. Together, the U.S. and China account for a significant 64% of all global hotel construction projects.
Other countries experiencing notable growth include India, which has reached record highs with 693 projects/87,512 rooms (a 35% increase in projects and a 43% increase in rooms YOY), Canada with 333 projects/43,413 rooms, and Saudi Arabia with 316 projects/83,275 rooms.
Top Performing Markets
Several cities are also setting records in hotel development. Dallas leads the way with 204 projects/23,669 rooms, followed by Atlanta with 168 projects/19,431 rooms. Internationally, Chengdu (China) ranks third with 141 projects/25,180 rooms, followed by Shanghai with 133 projects/24,529 rooms. Nashville also achieved new highs with 130 projects/17,029 rooms. "The U.S. markets with the greatest number of projects in the hotel construction pipeline have also achieved new milestones. Dallas leads with record highs of 204 projects/23,669 rooms. Atlanta follows with an all-time high of 168 projects/19,431 rooms," the report notes.
New Hotel Openings and Future Outlook
In 2024, 2,226 new hotels opened globally, adding 317,608 rooms to the market. This represents a 7% increase in new hotel openings YOY. During the fourth quarter of 2024, 486 hotels with 74,048 rooms opened. Looking forward, LE analysts predict 2,815 new hotels/429,639 rooms to open in 2025, followed by 2,820 new hotels/419,151 rooms in 2026. "LE analysts forecast 2,815 new hotels/429,639 rooms to open in 2025, followed by 2,820 new hotels/419,151 rooms in 2026," the report concludes. This sustained growth in hotel construction points to a continued positive trajectory for the global hospitality industry.
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