Regional focus: Europe has 1,500 new hotels in pipeline [Construction Report]
The Grand Hotel Europa is scheduled to open in Prague in 2020.
Europe’s hospitality sector is growing, TOPHOTELCONSTRUCTION data shows, and investors are focusing on luxury hotels more than ever.
While experts warn of an impending economic downturn, Europe’s hotel market is growing as strongly as ever.
1,534 projects are planned, two-thirds of which are to be in the five-star segment while the rest will be at a four-star level, giving Europe’s luxury market a handsome boost.
Promising years for Europe’s hotel industry
By 2019, 270 new hotels and resorts are expected to open, bringing more than 38,000 new rooms to the European market.
518 projects with a whopping 90,000 rooms are planned for next year, making 2020 the year with the fastest growth in the near future. 2021 and 2022 have a pipeline of 254 and 96 properties respectively.
Europe’s investors and hoteliers show no sign of slowing down, considering they already have almost 400 projects underway for 2023 and beyond.
Europe’s most active growth markets
Germany is ahead of all other countries with a pipeline of 383 hotels and 57,000 new rooms.
With 289 new openings and over 41,000 rooms, the UK ranks second while France comes in third with 93 new homes.
The Mediterranean region is busy too. There are 74, 64 and 47 hotels launching in the near future in Spain, Italy and Turkey respectively.
In central and eastern Europe, Poland and Russia take the lead with 54 and 68 new properties underway.
Big cities – rapid growth
England’s capital, London, is the undisputed leader among Europe’s cities and is set to receive 78 new hotels with over 14,000 rooms over the next few years.
In a far-flung second place, France’s capital Paris gets 31 openings with around 4,200 rooms, closely followed by Dublin with 30 projects.
In Germany, growth is spread evenly across Hamburg (24), Frankfurt am Main (20) and Berlin (18).
Europe’s top growing hotel brands
Let’s take a look at a few more hotel projects in Europe:
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