INTERNATIONAL STORY – According to the latest data from Lodging Econometrics, the United States and China accounted for nearly two-thirds of the global hotel pipeline in the first half of the year.

The global building stock is at a record high with 15,453 projects and 2,395,726 rooms, representing an increase of 6% in projects and 4% in rooms compared to the previous year.

At the end of the second quarter, there were 6,265 projects and 1,115,989 rooms under construction worldwide, representing a 2% increase in projects and 1% in rooms year-on-year. Projects and rooms scheduled to begin construction in the next 12 months increased 8% year-on-year to 3,972 projects and 545,764 rooms. Projects in the early planning stages also grew, with a 10% increase in projects and 6% in rooms year-on-year to 5,216 projects and 733,973 rooms.

The first half pipeline is dominated by upper mid-range, mid-range and upscale chains, which account for 65% of projects. Upper mid-range projects account for 29% of total projects in the global pipeline, with a record 4,540 projects and 585,688 rooms, while upscale projects and rooms also reached record highs through the second quarter, with 3,688 projects and 634,050 rooms. Mid-range projects increased 5% year-on-year, ending the quarter with 1,868 projects and 186,592 rooms. Luxury projects and room counts also reached record highs in the second quarter, with projects up 13% year-on-year and rooms up 14% year-on-year, with 1,066 projects and 214,270 rooms.

The US topped the country rankings with a record 6,095 projects and 713,151 rooms (39% of the global pipeline), while China also hit a record with 3,815 projects and 699,786 rooms (25% of the pipeline). India came a distant third with a record 610 projects and 75,280 rooms, while Canada came fourth with a record 322 projects and 40,297 rooms, and Saudi Arabia came fifth with a record 320 projects and 79,756 rooms.

Dallas topped the global market rankings with 189 projects and a record 22,392 rooms, with Atlanta coming in second with 159 projects and 18,522 rooms. Two markets in China, Chengdu (147 projects and 26,951 rooms) and Shanghai (126 projects and 24,340 rooms), followed, followed by California’s Inland Empire, which ranked fifth in the world with a record 124 projects and 12,569 rooms.

In total, 948 new hotels and 135,579 rooms were opened worldwide in the first half of 2024 and LE expects a further 1,586 new hotels and 237,107 rooms to open by the end of the year, bringing the total to 2,534 new hotels and 372,686 rooms.

LE analysts expect more hotel openings to take place in the coming years, with 2,756 new hotels and 429,120 rooms expected to open in 2025, and 2,812 new hotels and 430,355 rooms expected to open worldwide in 2026.