2 of the world areas, the Americas and Asia Pacific, revealed a year-over-year boost in hotel pipeline activity at the end of the 2nd quarter, according to June 2024 information from CoStar. CoStar is a leading service provider of online property markets, details and analytics in the residential or commercial property markets.
June 2024 (% modification in contrast with June 2023):
Europe
- In building and construction: 165,858 spaces (-2.4%)
- Last Planning: 93,241 spaces (-20.9%)
- Preparation: 160,651 spaces (+8.0%)
- Overall Under Contract: 419,750 spaces (-3.8%)
Amongst nations in the area, Germany (27,302) led in building and construction activity, carefully followed by the U.K. (25,312).
Asia Pacific
- In building: 503,770 spaces (+4.4%)
- Last Planning: 91,282 spaces (-22.9%)
- Preparation: 323,931 spaces (+16.5%)
- Overall Under Contract: 918,983 spaces (+4.5%)
China leads the Asia Pacific area in overall spaces in building (319,012), followed by Vietnam (36,521).
Middle East & & Africa
- In building: 109,005 spaces (-5.6%)
- Last Planning: 33,040 spaces (-23.8%)
- Preparation: 83,020 spaces (+9.2%)
- Overall Under Contract: 225,065 spaces (-4.2%)
The majority of the area's pipeline activity is focused in the Middle East. Saudi Arabia (42,786) and the United Arab Emirates (18,933) have the most spaces in building.
Americas
- In building: 208,718 spaces (+8.3%)
- Last Planning: 299,153 spaces (+6.9%)
- Preparation: 385,945 spaces (+34.6%)
- Overall Under Contract: 893,816 spaces (+17.8%)
The U.S. (157,713) has the most spaces in building in the area. After the U.S., Mexico (13,301), Canada (8,686) and Brazil (5,948) have the greatest variety of spaces in construction.For more details about the business and its services and products, please go to www.costargroup.com.
