PORTSMOUTH, New Hampshire — The Q4 2024 Global Hotel Construction Pipeline Trend Report from Lodging Econometrics shows that the global hotel construction pipeline continues its upward trajectory, reaching a new all-time high project count with 15,820 projects and over 2.4 million rooms, a 4% increase in projects and a 3% increase in rooms year-over-year.
There are 6,231 projects and nearly 1.1 million rooms currently under construction worldwide at Q4 2024, up 1% by projects year-over-year. Projects scheduled to start construction in the next 12 months stand at 3,872 projects and 539,054 rooms, also up 1% by projects from Q4 2023. Projects in the early planning stage have reached record highs, standing at 5,717 projects and 800,515 rooms, showing significant growth with a 10% increase in projects and a 9% increase in rooms year-on-year.
The top countries by project count continue to be led by the United States, which reached a new all-time high project count of 6,378 projects and 746,986 rooms, up 7% and 8% respectively year-over-year. China follows with 3,779 projects and 681,915 rooms. The United States represents 40% of the projects in the total global pipeline, while China accounts for 24%, resulting in 64% of all global projects in these two countries. Notable growth is seen in India, which reached record highs with 693 projects and 87,512 rooms, showing remarkable increases of 35% in projects and 43% in rooms year-over-year. Canada follows with record highs of 333 projects and 43,413 rooms, and Saudi Arabia with 316 projects and 83,275 rooms.
The U.S. markets with the greatest number of projects in the hotel construction pipeline have also achieved new milestones. Dallas leads with record highs of 204 projects and 23,669 rooms. Atlanta follows with an all-time high of 168 projects and 19,431 rooms. The Nashville market reached new highs with 130 projects and 17,029 rooms.
During 2024, 2,226 new hotels opened worldwide, accounting for 317,608 rooms, representing a 7% increase in new hotel openings from 2023. In the fourth quarter, 486 hotels with 74,048 rooms opened. Lodging Econometrics analysts forecast 2,815 new hotels with 429,639 rooms to open in 2025, followed by 2,820 new hotels with 419,151 rooms in 2026.
For more information or to download the report, visit lodgingeconometrics.com.
