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 data from CoStar.
For the month (percentage change in comparison with March 2023):
Americas
- In Construction: 205,998 rooms (+4.1 percent)
- Final Planning: 296,374 rooms (+6.8 percent)
- Planning: 378,628 rooms (+36 percent)
- Total Under Contract: 881,000 rooms (+16.9 percent)
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.
Europe
- In Construction: 172,499 rooms (-6.8 percent)
- Final Planning: 99,744 rooms (-25.3 percent)
- Planning: 160,404 rooms (+3.1 percent)
- Total Under Contract: 432,647 rooms (-8.8 percent)
Among countries in the region, Germany (28,500) led in construction activity, closely followed by the U.K. (28,423).
Asia Pacific
- In Construction: 502,610 rooms (+5.6 percent)
- Final Planning: 109,926 rooms (+5.6 percent)
- Planning: 289,041 rooms (-11 percent)
- Total Under Contract: 901,577 rooms (-0.4 percent)
China leads the Asia Pacific region in total rooms in construction (315,145), followed by Vietnam (37,113).
Middle East & Africa
- In Construction: 110,783 rooms (-7.3 percent)
- Final Planning: 36,173 rooms (-20.9 percent)
- Planning: 81,316 rooms (-3.3 percent)
- Total Under Contract: 228,272 rooms (-8.5 percent)
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.