Lodging Econometrics’s Q2 2024 Global Construction Pipeline Trend Report states that the total hotel construction pipeline ascended to a record-high 15,453 projects with 2,395,726 rooms, up 6% by projects year-over-year and 4% by rooms.
In Q2, the top countries by project count are the United States, closing the quarter at a record 6,095 projects with 713,151 rooms, and China, also reaching record-high project counts of 3,815 projects with 699,786 rooms.
Upper-midscale, upscale, and midscale chain scales dominate the pipeline in Q2, accounting for 65% of the projects in the total hotel construction pipeline. Of that 65%, upper midscale hotel projects comprise 29% of the projects in the total global pipeline with a record 4,540 projects and 585,688 rooms.
