48,559 new rooms will open this year, while 383 new hotels and 52,337 rooms are expected to open in 2025.
According to LE data, the total hotel pipeline in Europe stood at 1,706 hotels with 254,937 rooms at the end of 2023.
At the end of last year, the hotel pipeline included 755 hotels with 115,300 rooms under construction, while an additional 418 hotels/64,835 rooms were scheduled to begin construction within the next 12 months.
In addition, 533 hotels/74,802 rooms were at an early planning stage. It is worth noting that the renovation and conversion projects announced saw a significant increase, with an increase of 21% in hotels and 10% in rooms year-on-year in 2023, reaching 558 hotels and 76,231 rooms.
Renovations in fourth quarter alone grew 33% in terms of hotels and 22% in terms of rooms year-over-year, finishing the quarter with 412 hotels and 54,273 rooms.
High-, upper-end and mid-range hotels dominate the hotel construction pipeline. The high category recorded record levels in fourth quarter 2023, with 266 hotels/44,003 rooms. In the upper category, 354 hotels/56,304 rooms were developed, and in the middle category 302 hotels/46,655 rooms.
The UK leads the region with the highest number of hotels under construction during fourth quarter 2023, translating to 322 hotels and 43,990 rooms.
It is followed by Germany with 195 hotels and 31,839 rooms, France with 127 hotels and 14,224 rooms, Turkey with a record 118 hotels and 17,752 rooms and Portugal with 114 hotels and 13,869 rooms. These five countries account for 51% of the hotels in the region’s total pipeline.
The European cities with the largest projects are led by London with 77 hotels/13,699 rooms, followed by Istanbul with 53 hotels/8,911 rooms, followed by Lisbon with 36 hotels/4,013 rooms, Dublin with 32 hotels/6,106 rooms and Düsseldorf with 28 hotels/5,228 rooms.
