International Resort Pipeline Reached Report Excessive Challenge Counts


The This autumn 2023 International Resort Development Pipeline Pattern Report from Lodging Econometrics (LE) revealed that the worldwide resort development pipeline hit all-time excessive venture counts in This autumn. On the shut of 2023, LE analysts said that the overall world development pipeline stands at 15,196 initiatives/2,367,727 rooms, a 7 % enhance in initiatives, and a 3 % enhance in rooms year-over-year (YOY).

There have been 6,160 initiatives/1,096,748 rooms at present underneath development worldwide in This autumn 2023, for a 2 % enhance by initiatives YOY. Initiatives scheduled to start out development within the subsequent 12 months stood at 3,850 initiatives/536,588 rooms, for a 7 % enhance by initiatives and a 5 % enhance by rooms YOY. Initiatives and rooms within the early strategy planning stage have been at all-time highs and stand at 5,186 initiatives/734,391 rooms, growing 12 % and 6 % YOY, respectively. Moreover, the renovation and conversion pipeline globally was the best it has ever been, reaching 3,291 initiatives/510,584 rooms on the finish of This autumn 2023.

The highest international locations by venture depend have been led by the US, with an all-time excessive by initiatives of 5,964 initiatives/693,963 rooms. Following the US was China, reaching an all-time excessive of three,788 initiatives with 691,772 rooms. In This autumn, the US represented 39 % of the initiatives within the whole world pipeline, whereas China accounts for 25 % of the initiatives within the whole pipeline, leading to 64 % of all world initiatives in simply these two international locations. Distantly following have been India with 514 initiatives/61,075 rooms, the UK with 322 initiatives/43,990 rooms, and Saudi Arabia with 300 initiatives/72,761 rooms.

Three of the 5 cities with the most important development pipeline totals have been positioned in the US in This autumn: Dallas, Texas, with 193 initiatives/22,291 rooms; Atlanta, Georgia, with 151 initiatives/18,730 rooms; and Nashville, Tennessee, with 123 initiatives/16,148 rooms. Chengdu, China, additionally ranked among the many prime 5 cities with 148 initiatives/29,575 rooms. The Provincial cities in Saudi Arabia adopted with 133 initiatives/28,656 rooms.

Globally, throughout 2023, 1,978 new resorts opened, accounting for 292,380 rooms, 636 of these resorts and 94,559 rooms within the fourth quarter. LE analysts forecast a further 2,550 new resorts with 389,799 rooms to open by year-end 2024 and one other 2,804 new resorts/430,546 rooms to open in 2025.

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