The This fall 2024 World Lodge Building Pipeline Development Report from Lodging Econometrics (LE) confirmed that the worldwide resort building pipeline continued its upward trajectory, reaching a brand new all-time excessive undertaking depend with 15,820 initiatives/2,438,189 rooms, a 4 % improve in initiatives and a 3 % improve in rooms year-over-year (YOY).

There have been 6,231 initiatives/1,098,620 rooms beneath building worldwide on the finish of This fall 2024, up 1 % by initiatives YOY. Tasks scheduled to begin building within the subsequent 12 months stood at 3,872 initiatives/539,054 rooms, additionally up 1 % by initiatives YOY. Tasks within the early starting stage reached document highs, standing at 5,717 initiatives/800,515 rooms, exhibiting progress with a ten % improve in initiatives and a 9 % improve in rooms YOY.

The highest nations by undertaking depend proceed to be led by the US, which reached a brand new all-time excessive undertaking depend of 6,378 initiatives/746,986 rooms, up 7 % and eight % respectively YOY. China follows with 3,779 initiatives/681,915 rooms. The US represented 40 % of the initiatives within the whole world pipeline, whereas China accounts for twenty-four %, leading to 64 % of all world initiatives in these two nations. Development was seen in India, which reached document highs with 693 initiatives/87,512 rooms, exhibiting will increase of 35 % in initiatives and 43 % in rooms YOY. Canada follows with document highs of 333 initiatives/43,413 rooms, and Saudi Arabia with 316 initiatives/83,275 rooms.

The U.S. markets with the best variety of initiatives within the resort building pipeline additionally achieved new milestones. Dallas led with document highs of 204 initiatives/23,669 rooms. Atlanta adopted with an all-time excessive of 168 initiatives/19,431 rooms. Subsequent have been the worldwide cities of Chengdu which ranks third with 141 initiatives/25,180 rooms, adopted by Shanghai with 133 initiatives/24,529 rooms, and the Nashville market reached new highs with 130 initiatives/17,029 rooms.

Throughout 2024, 2,226 new inns opened worldwide, accounting for 317,608 rooms, representing a 7 % improve in new resort openings YOY. Within the fourth quarter, 486 inns with 74,048 rooms opened. LE analysts forecast 2,815 new inns/429,639 rooms to open in 2025, adopted by 2,820 new inns/419,151 rooms in 2026.