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According to the latest Lodging Econometrics (LE) report, 150 new hotels opened in Europe during the first half of 2023, and an additional 265 hotels are expected to be opened by the end of the year. Moreover, LE’s report reveals that there are currently 1,715 projects in the pipeline, with approximately 256,600 rooms, during the second quarter in Europe. Great Britain and Germany led the countries with the most projects.
In the construction pipeline, the UK has 322 projects with 45,181 rooms, while Germany has 211 projects with 34,981 rooms. These two countries, France, Portugal, and Turkey, account for 52 percent of the projects and 49 percent of the rooms. Experts predict that these countries will continue to be Europe’s leaders in the next few years until 2025.
In the second quarter, London and Istanbul had the highest pipeline activity among cities. London had 82 projects, translating to 14,767 rooms, while Istanbul had a record-breaking 42 projects, with 7,222 rooms. Lisbon and Dublin came next with 37 (4,262 rooms) and 32 projects (6,173 rooms). Düsseldorf ranked fifth in Europe with 31 projects and 5,669 rooms.
Accor is the top franchise company with 276 projects and 36,909 rooms, followed by Hilton Worldwide with 202 projects and 28,825 rooms, Marriott International with 178 projects and 27,142 rooms, IHG Hotels & Resorts with 143 projects and 19,108 rooms, and Radisson Hotel Group with 59 projects and 11,452 rooms. These five franchises account for 50% of the European pipeline projects.
During the second quarter, the top-performing hotel brands were the Ibis brand from Accor with 91 projects and 10,773 rooms, Hampton by Hilton from Hilton with 71 projects and 10,345 rooms, Holiday Inn Express from IHG with 45 projects and 6,129 rooms, and Moxy from Marriott with 38 projects and 6,091 rooms.
It is forecast that in 2024, 381 new hotels with 51,708 rooms will open across Europe. The 2025 forecast is 365 unique hotels with 56,094 rooms.
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