LE: U.S. LEADS GLOBAL FULL-SERVICE HOTEL PIPELINE IN Q1 WITH 2,272 PROJECTS

THE U.S. LEADS the global full-service hotel pipeline in the first quarter of 2024 with 2,272 projects and 341,854 rooms, accounting for 41 percent of all
planned or under-construction hotels worldwide, according to Lodging Econometrics. Dallas and Los Angeles are among the top five cities globally in the pipeline.

The global pipeline totals 15,366 projects and 2,382,195 rooms, marking a year-over-year increase of 6 percent in projects and 3 percent in rooms. LE’s Q1 2024
Global Hotel Construction Pipeline Trend Report showed a record high in global room counts and a significant rise in full-service projects by the end of the
first quarter.

In the first quarter, there are 6,195 projects and 1,101,602 rooms under construction worldwide, the report said. Projects set to start within the next 12 months
total 3,840 projects and 528,251 rooms, an 8 percent increase in projects and a 5 percent increase in rooms year-over-year. Early planning stage projects and
rooms have reached all-time highs at 5,331 projects and 752,342 rooms, rising 12 percent and 9 percent year-over-year, respectively.