Türkiye ranks fourth in Europe in hotel projects in pipeline

ISTANBUL

Türkiye ranks fourth in Europe’s hotel constructions in the pipeline with 117 projects/17,856 rooms, according to Lodging Econometrics’ (LE) second quarter Europe Hotel Construction Pipeline Trend Report.

The United Kingdom leads the list with 306 Projects/43,515 rooms, followed by Germany with 178 projects/28, 637 rooms and France with 120 projects/12,831 rooms. Portugal came fifth after Türkiye with 114 projects/14,247 rooms.

These five countries combined account for 50 percent of the projects and 47 percent of the rooms in Europe’s total pipeline and are expected to lead in new hotel openings through 2026.

The cities with the largest pipelines are London (76 projects/14,954 rooms), Istanbul (50 projects/8,397 rooms), Lisbon (36 projects/4,425 rooms), Dublin (26 projects/5,012 rooms) and Dusseldorf (24 projects/4,448 rooms).

In the second quarter, most projects in the pipeline in Europe are concentrated in the upper upscale, upscale, and upper midscale chain scales, according to the report.

The upscale chain scale leads with 358 projects/55,936 rooms, accounting for 21 percent of the pipeline.

Europe experienced significant growth in new hotel openings during the second quarter with 81 hotels and 10,569 rooms opening, a 72 percent increase compared to the first quarter, the report said.

In total, 128 new hotels with 16,829 rooms opened throughout Europe in the first and second quarters.

LE analysts forecast an additional 202 new hotels with 27,106 rooms to open in the third and fourth quarters, bringing the total forecast for new openings in 2024 to 330 hotels with 43,935 rooms.