HomeHotelNearly 350 new hotels will open in Europe in 2024

Nearly 350 new hotels will open in Europe in 2024

The portfolio of hotels under planning, construction or renovation in Europe reached record numbers in the fourth quarter of 2023, with more than 1,700 projects and about 250,000 rooms, according to the latest figures from Lodging Econometrics (YOU). The forecast is that this year they will open their doors 348 new establishments and another 383 in 2025.

The LE trends report details that at the end of 2023 in Europe there were 755 hotels under construction (115,300 rooms), another 418 projects (64,835 rooms) that will begin work in the next 12 months and 533 hotels (74,802) in the initial planning phase.

Compared to the last quarter of 2022, renovation and conversion projects saw a 21% increase in projects and a 10% increase in rooms, reaching 558 and 76,231, respectively.

The superior category hotels that are projected reached “record levels” in the fourth quarter, with 266 hotels/44,003 rooms; luxury projects amounted to 354 projects/56,304 rooms; and those of medium-high scale closed the quarter with 302 projects/46,655 rooms.

In Europe this year, 48,559 new hotel rooms will open. Source: AdobeStock.

The countries with the most hotel projects underway

United Kingdom leads the region with 322 hotel projects (43,990 rooms), followed by Germany with 195 hotels (31,839 rooms), France with 127 projects (14,224 rooms), Türkiye with a record of 118 projects (17,752 rooms) and Portugal with 114 hotels (13,869 rooms). These five countries represent 51% of the projects in the region’s portfolio.

These five countries concentrate 51% of the hotel projects underway in Europe

If analyzed by city, at the top appears London (77 hotels/13,699 rooms), in second place is Istanbul (53 projects/8,911 rooms) and Lisbon completes the podium with 36 projects/4,013 rooms. The top 5 also includes Dublin (32 projects/6,106 rooms) and Dusseldorf (28 projects/5,228 rooms).

More than 300 new hotels in the European market

Last year, 316 new hotels were opened, increasing the European offer by 41,866 rooms. Analysts anticipate that this year they are scheduled at least 348 starts (48,559 rooms) and another 383 hotels (52,337 rooms) in 2025.

Source: Hosteltur



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