The Q4 2023 Hotel Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE) states that at the close of the fourth quarter, the region’s total pipeline stands at 607 projects/145,984 rooms. The region boasts an impressive 11% year-over-year (YOY) increase in projects and a 2% YOY rise in rooms, marking the most substantial growth by projects since Q1 2018.
At Q4, there are 309 projects/83,308 rooms under construction, up 2% YOY by projects. Those projects scheduled to start construction in the next 12 months are at 110 projects/26,454 rooms, up 7% YOY by projects, while projects in early planning are up an impressive 32% YOY and stand at a record-high 188 projects/36,222 rooms.
