Hotel construction across the globe shows a slight uptick from one year ago, according to the recent Global Construction Pipeline Trend Report from Lodging Econometrics (LE). LE tabulates the construction pipeline for 182 countries around the world.
The report shows a total of 11,260 projects and 1,919,370 rooms either currently under construction or in some form of planning. This is a 3% year-over-year increase for both projects and rooms.
Breaking down the total number of projects and rooms further, the report shows 5,232 projects and 986,995 rooms that are currently under construction. This is down 2% year-over-year in terms of projects, but a 1% increase in rooms.
There are 3,396 projects and 489,503 rooms scheduled to start construction within the next 12 months, a 19% increase for projects and a 17% increase for rooms. Finally, the number of projects in early planning is down 2% at 2,632 while the number of rooms in early planning is down 4% at 442,872.
Related Stories
Industry Research | Dec 8, 2015
AEC leaders say the 'talent wars' are heating up: BD+C exclusive survey
A new survey from Building Design+Construction shows that U.S. architecture, engineering, and construction firms are being stymied by the shortage of experienced design and construction professionals and project managers.
Market Data | Dec 7, 2015
2016 forecast: Continued growth expected for the construction industry
ABC forecasts growth in nonresidential construction spending of 7.4% in 2016 along with growth in employment and backlog.
