Analysts report that at the end of the second quarter of 2022, Europe continues to show steady growth in new hotels opening 2022, opening 188 new hotels with 28,350 rooms in the first half of the year, according to the latest Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE). Continuing its increasing trend, Europe is expected to launch another 259 hotels with 36,548 rooms in the next two quarters, for a total of 447 new hotels/64,898 rooms by the end of 2022. According to the LE prediction for new hotel openings over the next years, 421 new hotels/62,281 rooms are expected to open by the end of 2023, with 419 new hotels/64,016 rooms expected to open in 2024.
The pipeline of hotel building projects in Europe now stands at 1,706 projects and 265,818 rooms. Europe’s hotel construction pipeline is steadily recovering after nearly two years of project and timeline delays, ongoing pandemic management and containment, the current Russia-Ukraine war, labor difficulties, and rising inflation. Many nations in the area reopened their borders to international travel during the first and second quarters, increasing the number of leisure and business tourists. While the country confronts several hurdles on its route to complete recovery, the region’s pent-up desire for travel has played and will continue to play a significant role.
The nations with the most projects and rooms in Europe’s building pipeline in Q2 are the United Kingdom (309 projects/46,296 rooms), Germany (258 projects/44,692 rooms), France (152 projects/17,338 rooms), Portugal (123 projects/14,811 rooms), and Poland (85 projects/12,205 rooms). In the second quarter of 2022, these five nations account for 54% of the projects and 51% of the rooms in Europe’s entire building pipeline.
The cities with the most pipelines in Europe are London, UK, with 80 projects/13,683 rooms, and Düsseldorf, Germany, with 46 projects/8,492 rooms. Paris, France comes in second with 35 projects/5,540 rooms, followed by Lisbon, Portugal with 34 projects/3,850 rooms, and Istanbul, Turkey with 32 projects/6,598 rooms.