Europe’s Hotel Construction Pipeline Sees Slight Decline Year-over-Year at the end of Q1 ’22 – Hospitality Net

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Based mostly on The Latest Lodge Enchancment Pipeline Trfinish Report from Lodging Econometrics (LE), Europe finishs 2022’s first quarter with 1,781 tasks/277,290 rooms. An 8% decrease by tasks and an 11% decrease by rooms yr-over-yr (YOY).

Projects beneath construction stand at 875 tasks/141,304 rooms, On The prime of Q1 ‘22, whereas tasks scheduled To start out construction Inside The subsequent 12 months stand at 443 tasks/65,611 rooms. Projects Inside the early Strategy planning stage are at 463 tasks/70,375 rooms, tasks On this stage are up 5% by tasks and down 1% by rooms YOY.

Simply like completely different areas Throughout the globe, the previous two yrs have been difficult for Europe’s hospitality enterprise. And now, with the battle between Russia and Ukraine, the hotel construction pipeline in Europe is as quickly as extra experiencing timeline delays as builders put tasks on primarytain and cease development exercise Inside these relyries. The velocity Of latest hotel openings in Europe has dropped significantly Over the previous three quarters. Final yr, at Q2 ‘21, new hotel openings reached a doc-extreme of 169 resorts/24,472 rooms; as many resorts that have been delayed all by way of COVID have been pushed by way of and accomplished. However, On The prime of Q1 ‘22, this quantity dropped to 60 new hotel openings, acrelying for 8,931 rooms. That is nonetheless above the area’s lowest new hotel opening level, which occurred Through The peak of COVID in Q2 ‘20, By which solely 37 resorts/6,871 rooms opened.

Even with The proceedd Russia and Ukraine battle, there are encouraging indicators for the hotel enterprise in Europe. A quantity of relyries And completely different people That are properly-appreciated vacationer locations have seen A delicate enhance in enterprise and leisure journey demand in current months. As we transfer into the summer time season, the rise in journey and hotel demand Is predicted to proceed to trfinish upward.

Based mostly on LE analysts, The very biggest relyries in Europe’s Enchancment Pipeline by enterprise rely at Q1 ‘22 are The united kingdom with 328 tasks/48,207 rooms, Germany with 266 tasks/47,004 rooms, and France with 161 tasks/18,981 rooms. Subsequent, with 125 tasks/14,880 rooms, is Portugal, adopted by Poland with 82 tasks/11,693 rooms.

The eu cities with The Most very important Number of hotel tasks Inside The development pipelines, On the shut of the quarter, are London with 85 tasks/13,777 rooms, Dusseldorf with 47 tasks/8,969 rooms, Paris with 41 tasks/6,461 rooms, Istanbul with 33 tasks/6,795 rooms, and Lisbon with 33 tasks/3,773 rooms.

Franchise corporations with The Most very important construction pipelines at Q1 shut are Accor, with 272 tasks/37,320 rooms, and Marriott Worldwide, with 205 tasks/32,087 rooms. Hilton Worldwide follows with 188 tasks/27,790 rooms, then InterContinental Lodges Group (IHG) with 155 tasks/21,219 rooms. These 4 corporations acrely for 46% of the tasks and 43% of the rooms Inside The complete pipeline.

The main fashions Inside the hotel construction pipeline for these 4 corporations are Accor’s Ibis fashions with 96 tasks/11,615 rooms, Hilton Worldwide’s Hampton by Hilton mannequin at 74 tasks/11,144 rooms, IHG’s Journey Inn Categorical with 62 tasks/8,906 rooms, and Marriott Worldwide’s Moxy mannequin with 48 tasks/8,237 rooms.

During The primary quarter of 2022, Europe opened 60 new resorts with 8,931 rooms. Presently, and barring any further battle escalation, LE analysts anticipate ancompletely different 359 new hotel tasks to open acrelying for 53,930 rooms, for a yr-finish complete of 419 new hotel tasks/62,861 rooms to open in 2022. LE analysts forecast 468 new hotel tasks, with 65,712 rooms, to open in 2023.

About Lodging Econometrics (LE)

For almost 25 yrs, Lodging Econometrics (LE) has been the enterprise-main supplier Of worldwide hotel intelligence and choice-maker contact information. LE custom-made-builds enterprise development knowledgebase packages for hotel franchise corporations Making an try to velocity up their mannequin progress, hotel possession and administration corporations looking for to increase their exact property portfolios, and lodging enterprise vfinishors Considering about growing their gross sales. To study extra about our enterprise development packages, contact us: +1 603.431.8740 or [e-mail protected]lodgingeconometrics.com.

Hannah Paoletti
Media Relations Supervisor
+1 603 427 9556
Lodging Econometrics

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