August 18, 2021
According to an article published in Publituris, Lodging Econometrics (LE), a North American consultancy company that analyses hotel construction trends and projects in Europe, has stated that there are currently 120 units under construction for a total of 14,510 rooms in Portugal. The figures place the country in fourth place in the European ranking.
The analysis, based on the period until the end of the second quarter of 2021, puts the United Kingdom in first place, with 345 hotel units under construction (close to 53,000 rooms), followed by Germany, with 276 projects (just over 50,000 rooms. France is in third place, with 169 projects and almost 20,000 rooms, while Poland comes in fifth, with 94 projects and slightly over 14,000 rooms.
London leads the ranking by city, with 86 projects and 15,717 rooms, followed by Düsseldorf (Germany) with 52 projects and 10,370 rooms. The French capital rounds out the top three, with 44 projects and 6,927 rooms.
Lisbon comes in fourth place, with a total of 35 projects (4,120 rooms). Still in the top five is Istanbul (Turkey), with 33 projects and 6,472 rooms.
As a whole, hotel construction projects in Europe fell by 1%, while the number of rooms rose by 1% y-o-y. The second quarter of the year saw 1,841 projects for a total of 296,843 rooms.
A total of 934 projects (152,549 rooms) are in the construction phase. Projects expected to begin construction in the next 12 months declined slightly to 466 projects and 73,739 rooms, while the projects in the early planning stage fell 2%, to 441 projects. Rooms, meanwhile, increased by 1% to 70,561 units.
Over the past 18 months, “border closures and the absence of tourism have been the biggest disruption for many European economies,” LE points out, admitting, however, that “many [countries] are beginning to show signs of recovery.”
The consultancy also notes that “pent-up demand has left tourists eager to make plans for the end of the summer,” concluding that the demand for travel “should increase during the second half of 2021.”
By hotel groups, Accor leads with 281 projects and 40,123 rooms, followed by Marriott International with 218 projects and 35,721 rooms. Hilton Worldwide, with 205 projects and 32,155 rooms; InterContinental Hotels Group (IHG) with 154 projects and 23,391 rooms; and Radisson Hotel Group with 55 projects and 10,160 rooms, close the top five.
These five groups represent, moreover, 50% of all the projects in planning in Europe.
Finally, during the second quarter of 2021, 168 new hotels and 24,253 rooms were inaugurated in Europe, and LE estimates that, by the end of 2021, another 458 new hotels will open (65,422 rooms). In 2022, those numbers will increase slightly to 468 hotels and 69,756 rooms. In 2023, the number of hotels opening will decrease slightly (461), while the number of rooms will continue to increase (74,671).
Translation: Richard D K Turner