Hotel conversions in the European pipeline reach an “all-time high”

EU: According to a recent third quarter report from Lodging Econometrics, hotel conversions across Europe are at an all-time high of 324 hotels comprising 46,977 rooms.

The report on hotel construction projects in Europe trends revealed that, at the end of the third quarter, hotel construction projects in Europe amounted to 1,600 projects with 258,476 rooms.

There are 790 projects currently under construction, and in the next 12 months it is planned to start up another 408. 462 projects have been registered and are in the initial planning phase.

Hotel conversions have seen a 51% increase in hotel volume and a 61% increase in room counts, the highest counts ever recorded by Lodging Econometrics. Hotel renovations are also on the rise, with 150 hotels including 22,594 rooms counted in the third quarter.

In terms of the most popular countries for construction, the UK topped the list with 298 projects/45,173 rooms, followed by Germany (250 projects/43,523 rooms), France (148 projects/16,611 rooms), Portugal (126 projects/15,185 rooms) and Turkey with all-time highs (86 projects/13,532 rooms).

In terms of cities with the largest projects at the end of the third quarter, London ranked first with 79 projects/14,139 rooms, followed by Dusseldorf (44 projects/7,959 rooms), Istanbul (with an all-time high of 40 projects/7,548 rooms), Paris (34 projects/5,379) and Lisbon (34 projects/3,923 rooms).

Accor, Marriott, Hilton and IHG account for 46 percent of the projects in the total hotel construction pipeline in Europe. This is expected to increase as 23 percent of projects have yet to select a brand.

Below are the leading brands within the four chains:

• Accor – Ibis (88 projects/10,395 rooms); Tribe (25 projects/3,815 rooms), Novotel (22 projects/3,316 rooms).

• Marriott – Moxy (46 projects/7,807 rooms), Autograph Collection (22 projects/2,952 rooms); Patio (19 projects/3,096 rooms).

• Hilton – Hampton (63 projects/9,628 rooms); Hilton Garden Inn (39 projects/5,992 rooms); Doubletree (23 projects/3,103 rooms).

• IHG – Holiday Inn Express (58 projects/8,413 rooms); Hotel Indigo (17 projects/1,782 rooms); Holiday Inn (16 projects/2,711 rooms).

Lodging Econometrics forecasts the opening of 98 hotels with 13,041 rooms in the fourth quarter, bringing the total number of new hotels in Europe at the end of the year to 391 comprising 56,373 rooms. Next year, it is expected to increase to 408 new hotels and by 2024, 419 new hotel openings.

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