With that in mind, we think it’s important today for hotel owners and operators to learn as much as they can about this topic, and so we’d like to look at 5 interesting facts from the TOPHOTELCONSTRUCTION EMEA Report.
5 Interesting Facts from the TOPHOTELCONSTRUCTION EMEA Report
- Overall, there are currently 5,505 hotel construction projects in the pipeline, which once completed will add 1,296,424 rooms to the international luxury hospitality market.
- Of the six regions that the international hospitality market is generally broken into—North America, Latin America, Europe, Africa, Middle East, and the Asia Pacific—it is the Asia Pacific region that is slated to grow the most, with that particular geographic area possessing 1,961 projects in its pipeline that will eventually yield 478,515 new rooms.
- Europe is poised to surpass North America in terms of projects in its pipeline, which is a stark contrast from this time last year when North America was presenting a serious challenge to the Asia Pacific region for the fastest growing in the entire world. Now, however, Europe is threatening to overtake it. Europe currently has 1,225 projects in its pipeline that will eventually yield 214,743 rooms, while North America is barely ahead with 1,245 that will yield 260,353 rooms once they are completed.
- Much of the growth is slated to take place in the coming year. According to the numbers from the TOPHOTELCONSTRUCTION EMEA Report for January 2018, this year will see 905 new projects debut across the world, yielding 182,734 rooms and accounting for 42 percent of the overall project pipeline worldwide. This, however, is not all that unusual because the coming year is always the one that construction is the clearest for. In other words, next year at this time, it is quite likely that 2019 will have the most projects in its pipeline even though at present it is lagging behind.
- Germany leads the world in projects, while the United Arab Emirates leads the world in rooms. Germany currently is number one with 366 projects in its pipeline. The United Arab Emirates is number two with 222 projects, but those projects are of an overall grander scale than those taking place in Germany, and because of this Germany has 56,765 rooms in its pipeline while the United Arab Emirates has a massive 126,576 in its own.
Let’s take a look at a few other projects currently underway in the EMEA region:
The luxury lifestyle hotel will offer incredible guest amenities with a number of show-stopping skyline floors boasting panoramic views leading up to the stunning Roof Garden …[READ MORE]
More information on hotel projects the EMEA region can be found on TOPHOTELPROJECTS, the specialized service provider of cutting-edge information of the hospitality industry.
Phone: +49 4261 4140 309