The Americas is the only world region that showed a year-over-year increase in pipeline activity at the end of the first quarter, according to March 2024 data from CoStar.
CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
There are strong changes in hotel activity, hotel expansion and rooms in March 2023 compared to March 2024. More specifically, according to data from European countries, there was a 6.8% decrease in the construction and expansion of hotel complexes and a 25.3% decrease in the final design. At the same time, there was a slight increase of 3.1% in general planning. Consequently, there was a decrease in total economic value of 8.8%. Among countries in the region, Germany (28,500) led in construction activity, closely followed by the U.K. (28,423).
As for the Asia-Pacific data, there is a 5.6% increase in hotel complex construction and final design, while there is a sharp 11.0% decrease in the overall design of hotel operations. This causes an overall economic decline of 0.4%. China leads the Asia Pacific region in total rooms in construction (315,145), followed by Vietnam (37,113).
For the Middle East and Africa there is a 7.3% reduction in hotel construction, a 20.9% reduction in the final design and the way in which similar activities are implemented to achieve the desired result and a 3.3% reduction in individual design. Consequently, the overall economic value is reduced by 8,5 %. Most of the region’s pipeline activity is focused in the Middle East. Saudi Arabia (42,464) and the United Arab Emirates (19,046) have the most rooms in construction.
The positive side to these changes is America, which has a 4.1% increase in the construction sector, a 6.8% increase in the final design of hotel complexes and a tremendous 36% increase in individual design. Effectively, the overall value has a positive sign with a 16.9% increase. The U.S. (156,525) holds the majority of rooms in construction in the region. After the U.S., Mexico (13,335), Canada (7,603) and Brazil (5,799) show the highest number of rooms in construction. 
