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LE: U.S. leads global full-service hotel pipeline in Q1 with 2,272 projects

Dallas and Los Angeles are among the top five cities globally in the pipeline

LE: U.S. leads global full-service hotel pipeline in Q1 with 2,272 projects

THE U.S. LEADS the global full-service hotel pipeline in the first quarter of 2024 with 2,272 projects and 341,854 rooms, accounting for 41 percent of all planned or under-construction hotels worldwide, according to Lodging Econometrics. Dallas and Los Angeles are among the top five cities globally in the pipeline.

The global pipeline totals 15,366 projects and 2,382,195 rooms, marking a year-over-year increase of 6 percent in projects and 3 percent in rooms. LE's Q1 2024 Global Hotel Construction Pipeline Trend Report showed a record high in global room counts and a significant rise in full-service projects by the end of the first quarter.


In the first quarter, there are 6,195 projects and 1,101,602 rooms under construction worldwide, the report said. Projects set to start within the next 12 months total 3,840 projects and 528,251 rooms, an 8 percent increase in projects and a 5 percent increase in rooms year-over-year. Early planning stage projects and rooms have reached all-time highs at 5,331 projects and 752,342 rooms, rising 12 percent and 9 percent year-over-year, respectively.

Luxury projects surge

Full-service branded and unbranded projects surged, dominating the first quarter pipeline, LE said. By the end of the first quarter, luxury hotel projects and room counts hit record highs of 1,215 projects and 239,744 rooms, a 12 percent increase in projects and a 6 percent increase in rooms year-over-year.

Upper-upscale closed the first quarter with 1,999 projects and 445,207 rooms, up 7 percent in projects and 5 percent in rooms year-over-year, the report said. Upscale hotel projects hit a record 4,093 projects with 711,510 rooms, climbed 7 percent in projects and 4 percent in rooms year-over-year. Casinos increased 6 percent in projects and 3 percent in rooms year-over-year, reaching 53 projects and 25,023 rooms.

Around 177 new full-service hotels opened in the first quarter, totaling 32,611 rooms, with upscale projects representing over 50 percent of these openings, LE said. Meanwhile, LE analysts anticipate upscale projects to remain the predominant category in hotel openings from the full-service pipeline for the rest of 2024 and throughout 2025.

China and India trail the U.S.

China boasts a first quarter construction pipeline of 1,688 projects and 414,323 rooms, followed by India with 334 projects and 46,586 rooms, LE revealed. Next are Saudi Arabia with 270 projects and 62,744 rooms and Vietnam with 186 projects and 61,426 rooms. Together, these countries account for 86 percent of the full-service projects in the global pipeline.

LE forecasted an additional 952 new full-service hotels with 181,148 rooms to open over the next three quarters, totaling 1,129 new full-service hotels with 213,759 rooms by year-end 2024. Looking ahead, LE analysts anticipate another 1,260 new full-service hotels with 244,275 rooms to open worldwide in 2025.

Leading cities in hotel pipeline

The top five cities worldwide with the largest full-service pipeline totals in the first quarter include Chengdu, China, with 80 projects and 21,130 rooms; Riyadh, Saudi Arabia, with 75 projects and 15,025 rooms; Dallas with 75 projects and 10,434 rooms; Los Angeles with 68 projects and 13,188 rooms; and Shanghai, China with 67 projects and 16,569 rooms.

In May, LE reported that New York leads the top 50 U.S. markets in hotel construction, with 47 projects and 7,655 rooms underway. The city's hotel construction pipeline totals 78 projects and 13,549 rooms, ranking it as the 10th largest in the U.S.

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