Good news for everyone dreaming of that first holiday post-pandemic!
Despite Covid-19, the hotel pipeline across Europe continues to grow. According to data from STR, CoStar’s hospitality analytics firm, Europe is the only world region that reported an increase in hotel construction when compared to the end of the first quarter of 2020.
The March 2021 pipeline data showed there were 258,129 hotel rooms currently under construction across Europe — a year-over-year increase of 26.9% — along with another 181,101 rooms in the final planning stage (+23.7%).
Germany (51,785 rooms) led the continent in terms of total hotel rooms in construction. But for those planning a staycation, the United Kingdom came in second with 36,919 under construction.
Much of the increase comes from pent up demand, and with the world opening up again lets hope we can all make use of these rooms soon.
In March 2021, Europe was the only world region that reported increased hotel construction activity when compared to the end of the first quarter of 2020, according to data from CoStar’s hospitality analytics firm, STR.