Hotel construction across the world is at an all-time high, according to a report just published by US hotel consultant Lodging Econometrics (LE).
- The pipeline for worldwide hotel construction stands at a high of 12,839 projects, containing 2,158,500 rooms
- There has been an 86% increase in planned hotel projects since 2011
- Almost 6,000 projects with 1,133,000 rooms are under
- Construction work on almost 4,000 hotels with 570,700 rooms is due to begin over the next year
The US accounts for 41% of hotel projects in the overall construction pipeline and China accounts for 20%.
The cities with the most projects in the pipeline are New York, Dubai, Houston and Shanghai.
The clients with the most projects in the pipeline are Marriott International, Hilton Worldwide, InterContinental Hotels Group and Choice Hotels.
Recently, Marriott announced rapid expansion plans across Africa.
LE predicts that in 2020, 3,000 hotel openings could occur annually, with about 1,250 of them being in the US.