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

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

Paris, France [Dennis Kummer on Unsplash]

EU: According to a recent Q3 report from Lodging Econometrics, hotel conversions across Europe stand at an all-time high of 324 hotels comprising 46,977 rooms.

The Europe Hotel Construction Pipeline Trend Report found that at the close of the third quarter, Europe’s hotel construction pipeline stands at 1,600 projects of 258,476 rooms.

There are 790 projects currently under construction, and in the next 12 months a further 408 are planning to get underway. 462 projects have been recorded which are in the early planning stage.

Hotel conversions have seen a 51 per cent in crease in hotel volume and 61 per cent increase in room count – the highest counts ever recorded by Lodging Econometrics. Hotel renovations are also on the rise, with 150 hotels including 22,594 rooms being counted in Q3.

Regarding the most popular countries for construction, the UK topped the chart at 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 record highs (86 projects/13,532 rooms).

In terms of cities with the largest pipelines at the Q3 close, London ranked first with 79 projects/14,139 rooms, followed by Dusseldorf (44 projects/7,959 rooms), Istanbul (with all time highs 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 per cent of projects in the total hotel construction pipeline in Europe. This is expected to rise as 23 per cent of projects are yet to select a brand.

Noted 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); Courtyard (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 98 hotels with 13,041 rooms to open in Q4, bringing the year-end total of new hotels in Europe to 391 comprising 56,373 rooms. Next year, this is expected to rise to 408 new hotels and in 2024, 419 new hotel openings.

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