Dive Brief:
- The total global hotel construction pipeline reached a record high of 15,922 projects, representing roughly 2.4 million rooms, in the fourth quarter of 2025, Lodging Econometrics reported Wednesday. The global pipeline increased 1% year over year in the fourth quarter.
- Globally, there were 6,140 projects under construction in Q4 2025, according to Lodging Econometrics. Meanwhile, there were 3,845 projects scheduled to start construction within the next 12 months and a record 5,937 projects in the early planning stage.
- The U.S. led all other countries for the most hotel projects in the global construction pipeline. Across countries, higher-tier segments drove pipeline growth.
Dive Insight:
The U.S. represented 39% of the projects in the total global pipeline with 6,146 projects, or 720,089 rooms. China, accounting for 23%, followed the U.S. for the most projects in the pipeline with 3,608 projects, or 644,938 rooms.
The cities with the greatest number of projects in the global hotel construction pipeline in Q4 were Dallas (193), Atlanta (159 projects) and Chengdu in China (136 projects).
Higher-tier chain scales drove pipeline growth in the quarter, with the luxury segment reaching a record 1,328 projects, or 252,544 rooms, up 8% by projects and 4% by rooms year over year. The upper upscale segment also reached a record high of 1,883 projects and 391,391 rooms, increasing 9% and 4%, respectively, year over year.
In the U.S., specifically, the luxury hotels pipeline grew to reach a record 95 projects, or 22,045 rooms, in Q4, per Lodging Econometrics.
Both Hyatt and Marriott International will focus on growing their luxury pipelines in 2026, as their respective brands within the segment drove performance gains in the fourth quarter, both companies shared during Q4 earnings. Earlier this year, hospitality professionals told Hotel Dive the luxury segment will see outpacing growth this year amid a wealth bifurcation at play in the industry.
Globally, the conversion pipeline reached a record 2,815 projects in Q4, up 13% year over year. Conversions were “integral” to Hilton’s growth in 2025, CEO Chris Nassetta said during an earnings call last week. Meanwhile, on Tuesday, IHG Hotels & Resorts launched a new upscale collection brand focused primarily on conversions.
