HotelsMag September 2023 | Page 76

LATIN AMERICA 202 projects 38,856 rooms

AFRICA

114 projects 17,779 rooms hotel development , with development counts growing YOY . Trailing APAC is the U . S . with 553 luxury and upper-upscale projects in its pipeline , accounting for 115,977 rooms . Europe follows closely behind with 425 projects / 68,165 rooms , and then the Middle East with 297 projects / 74,671 rooms . Latin America ,

Bruce Ford , SVP & director of global business development , Lodging Econometrics

* Includes both branded and unbranded projects

Africa , and Canada , in that order , round out the world with 202 projects / 38,856 rooms , 114 projects / 17,779 rooms and 28 projects / 6,366 rooms , respectively .

Not surprisingly , the majority of the luxury and upper-upscale pipelines are in APAC cities , but they aren ’ t tops . The top 10 cities around the world with the most luxury and upper-upscale hotel development at the end of Q2 2023 , include the Provincial region of Europe , which has 56 projects / 11,984 rooms ; Riyadh , which has 52 projects / 10,055 ; Shanghai with 40 projects / 10,019 rooms ; Dubai with 35 projects / 12,240 rooms ; and Chengdu and Shenzhen , each with 31 projects / 9,748 rooms and 8,105 rooms , respectively . Following these two cities are Bangkok , Hangzhou and Los Angeles , all with 26 projects . Rounding out the top 10 is London with 24 projects / 3,446 rooms .

Since projects in the luxury and upperupscale chain scales tend to be larger in scale , it is no surprise that there are 578 projects in the pipeline that are expected

Q2 2023 statistics • © 2023 Lodging Econometrics , Inc .

to have 300 or more rooms each . The largest of these projects is the upperupscale Mangrove Tree Conghua project in Guangdong , China , which is still in the early planning phase . It will boast 4,760 rooms if it comes to fruition . This project is followed by the luxury Fontainebleau Las Vegas that is currently under construction and plans to have 3,180 rooms when it opens later this year . Other significant projects that are currently under construction include the 1,600-room , upper-upscale Gaylord Pacific Resort & Convention Center , in Chula Vista , Calif ., and the Grand Westside Hotel in Manila , which will add 1,530 rooms to the supply in the Philippines .

Finally , according to LE ’ s forecast for new hotel openings , these two chain scales will have 505 projects / 102,567 rooms open by year-end 2023 . In 2024 , LE is anticipating 511 luxury and upper-upscale projects to open having 105,578 rooms . And , in 2025 , 568 luxury and upper-upscale projects / 116,730 rooms are expected to open .

76 hotelsmag . com September 2023