Two of the four world regions, the Americas and Asia Pacific, showed a year-over-year increase in hotel pipeline activity at the end of the first quarter, according to March 2022 data from STR.
March 2022 (% changes in comparison with March 2021)
Europe
• In Construction: 226,597 rooms (-12.2%)
• Final Planning: 158,057 rooms (-12.7%)
• Planning: 164,690 rooms (+5.8%)
• Total Under Contract: 549,344 (-7.7%)
Germany (42,712) and the U.K. (31,796) lead Europe in total rooms in construction.
Asia Pacific
• In Construction: 482,689 rooms (+4.3%)
• Final Planning: 147,854 rooms (-19.3%)
• Planning: 315,956 rooms (+16.9%)
• Total Under Contract: 946,499 rooms (+3.3%)
Among countries in the region, China has the most rooms in construction (301,879), followed by Vietnam (32,804).
Middle East and Africa
• In Construction: 126,860 rooms (-10.6%)
• Final Planning: 37,830 rooms (-17.2%)
• Planning: 69,398 rooms (+29.6%)
• Total Under Contract: 234,088 (-2.9%)
Saudi Arabia (38,181) and United Arab Emirates (30,367) lead in construction activity.
Americas
• In Construction: 207,018 rooms (-14.0%)
• Final Planning: 209,353 rooms (-17.7%)
• Planning: 346,277 rooms (+30.3%)
• Total Under Contract: 762,648 (+0.3%)
The U.S. holds the majority of rooms in construction in the region. After the U.S., Mexico (14,317) and Brazil (7,080) have the highest number of rooms in construction in the region.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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