Hotel Construction Is Up In Europe, But Projects Could Take Longer
Europe Is Only World Region With Increase in Hotel Construction
It's common that a downturn or slump in demand and revenue — something definitely experienced during the COVID-19 pandemic — delays new hotel construction and development, but in Europe the hotel pipeline continues to grow.
It's common that a downturn or slump in demand and revenue — something definitely experienced during the COVID-19 pandemic — delays new hotel construction and development, but in Europe the hotel pipeline continues to grow.
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.