Lodging Econometrics (LE) has released its Global Hotel Construction Pipeline Trend Report, which compiles the hotel construction pipeline counts for every country and market around the world. The report for second quarter 2021 states that the total global hotel construction pipeline stands at 13,420 projects/2,253,499 rooms. Year-over-year (YOY) the pipeline decreased 9 percent by projects and 7 percent by rooms. However, the construction pipeline is up a noteworthy 94 percent by projects over the cyclical low established in 2011, when global counts were at 6,907 projects/1,257,296 rooms.
There are 6,197 projects/1,142,207 rooms currently under construction worldwide, dropping 10 percent by projects and 7 percent by rooms YOY. Projects scheduled to start construction in the next 12 months are down 21 percent by projects and 19 percent by rooms to end the second quarter with 3,623 projects/527,392 rooms. Projects in the early planning stage stand at 3,600, just eight projects