News
Opal Hospitality expands to U.S., acquires Four Points by Sheraton Charlotte‑Lake Norman, N.C.
Opal Hospitality has expanded into the U.S. market with acquisition of Four Points by Sheraton Charlotte-Lake Norman, Huntersville, N.C.
Intelligence
The Americas and Asia Pacific show growth in hotel pipeline activity
Two of the world regions, the Americas and Asia Pacific, showed a year-over-year increase in hotel pipeline activity at the end of the second quarter, according to June 2024 data from CoStar.
JUNE 2024 (% CHANGE IN COMPARISON WITH JUNE 2023):
Europe
- In construction: 165,858 rooms (-2.4 per cent)
- Final Planning: 93,241 rooms (-20.9 per cent)
- Planning: 160,651 rooms (+8.0 per cent)
- Total Under Contract: 419,750 rooms (-3.8 per cent)
Among countries in the region, Germany (27,302) led in construction activity, closely followed by the U.K. (25,312).
Asia Pacific
- In construction: 503,770 rooms (+4.4 per cent)
- Final Planning: 91,282 rooms (-22.9 per cent)
- Planning: 323,931 rooms (+16.5 per cent)
- Total Under Contract: 918,983 rooms (+4.5 per cent)
China leads the Asia Pacific region in total rooms in construction (319,012), followed by Vietnam (36,521).
Middle East & Africa
- In construction: 109,005 rooms (-5.6 per cent)
- Final Planning: 33,040 rooms (-23.8 per cent)
- Planning: 83,020 rooms (+9.2 per cent)
- Total Under Contract: 225,065 rooms (-4.2 per cent)
Most of the region’s pipeline activity is focused in the Middle East. Saudi Arabia (42,786) and the United Arab Emirates (18,933) have the most rooms in construction.
Americas
- In construction: 208,718 rooms (+8.3 per cent)
- Final Planning: 299,153 rooms (+6.9 per cent)
- Planning: 385,945 rooms (+34.6 per cent)
- Total Under Contract: 893,816 rooms (+17.8 per cent)
The U.S. (157,713) has the most rooms in construction in the region. After the U.S., Mexico (13,301), Canada (8,686) and Brazil (5,948) have the highest number of rooms in construction.
