As the holiday season approaches for much of the world, and workers prepare their vacation trips, the hospitality industry is also preparing to open its final projects of 2017.
With less than three months remaining in the calendar year, information from the TOPHOTELCONSTRUCTION database shows that there are 274 projects nearing completion worldwide in October 2017 alone, and once they have been finished they will yield a total of 51,594 rooms for guests. Now, in general the global hospitality market is broken into six regions, but for the purposes of this analysis, we’ve lumped Latin America and the Caribbean in with North America, creating a map with five regions: the Americas, Europe, Africa, the Middle East, and Asia Pacific.
North America generally tops any ranking of the most prolific project pipelines worldwide, and the count for hotel openings in October 2017 is no exception, especially given that the rest of the Western Hemisphere has been included in its count. By the end of October 2017, the Americas will see 108 projects come to fruition, which is more than double the number of the next closest region, which is Asia Pacific with 57. If North America is the perpetual first place finisher, fueled almost entirely by the markets in the United States, Asia Pacific is the regular runner-up, fueled in large part by the prolific pipeline in China. Again, the count for October 2017 is no exception in this regard.
Following those two regions is the Middle East, which has 52 projects in its own pipeline, narrowly missing out on topping Asia Pacific. The Middle East is a thriving region supported a great deal by the constant growth in the United Arab Emirates, specifically in Dubai. Europe is fourth for hotels opening in October 2017 with 41 projects, while Africa is a distant fifth with 16.
As the regional rankings would indicate, the United States is the top country in the world for hotel openings with 78, while China is second with 25 and the United Arab Emirates is third with 15. The top brands in the world are Hilton Garden Inn with 10 projects, Four Points by Sheraton with 8, and Hampton with 7.