Europe is expected to see the opening of around 350 new hotels in 2024 as the continent’s pipeline of new properties continues to grow, according to data from industry specialist Lodging Econometrics (LE).
LE said that Europe’s total hotel pipeline stood at just more than 1,700 projects at the end of 2023, which would add more than 250,000 rooms if all these developments go ahead.
Last year saw 316 new hotels opening throughout Europe, adding just under 42,000 rooms across the continent. This is forecast to increase to 350 properties and 48,600 rooms in 2024 and go up further to 383 new hotels and 52,000 rooms in 2025.
LE said that “upper upscale, upscale and upper midscale” properties were currently dominating Europe’s hotel construction pipeline.
The UK, and London in particular, continue to lead the way in the development of new hotels in Europe. The UK has 322 projects in the pipeline, including 77 in London. These developments would add 44,000 rooms in the UK including 13,700 rooms in the capital.
Germany has the second highest level of activity with 195 hotel projects and 31,800 rooms in the pipeline. Then comes France (127 hotels/14,200 rooms), Turkey (118 hotels/17,800 rooms) and Portugal (114 hotels/13,900 rooms).
Behind London, Istanbul is the European city with the second largest pipeline (53 hotels, 8,900 rooms), followed by Lisbon, Dublin and Dusseldorf.