Lodging Econometrics (LE) has released its fourth quarter 2022 Global Construction Pipeline Trend Report. At the close of 2022, LE concluded that the total global construction pipeline stands at 14,267 projects, a 4 percent increase year-over-year (YOY), with 2,298,846 rooms. According to multiple media outlets, the global pipeline has remained relatively flat for three consecutive years, following the onset of the COVID-19 pandemic, after reaching peak project and room counts in fourth quarter 2019. However, three of the seven world regions tracked by LE — the United States, Canada, and Asia Pacific — continue to have pipelines trending upward, YOY. The remaining regions stayed largely unchanged by project counts during the year.
At the close of fourth quarter 2022, there were 6,035 projects and 1,091,929 rooms under construction worldwide, down 1 percent by projects and 4 percent by rooms YOY. Projects scheduled to start construction in the next 12 months stand at 3,591