Overview

• Global pipeline reached a record 15,871 projects and 2,436,225 rooms, up 3% in projects and 2% in rooms year-over-year.
• Early-planning activity climbed to 5,744 projects and 798,792 rooms, marking 10% growth in project count and 9% growth in rooms.
• Under-construction tally held at 6,257 projects while room inventory slipped 3% and planned starts within 12 months fell 3% in project count but rose 1% in rooms.
• The United States and China account for 64% of global projects, with top city pipelines in Dallas, Atlanta, Chengdu, Nashville and Austin.
• Analysts expect 2,854 new hotels with 418,247 rooms to open in 2025 and foresee roughly 2,530 to 2,554 openings annually through 2027, each adding about 382,000 rooms.