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Dive Brief:
- The total global hotel construction pipeline reached an all-time high of 15,922 projects, representing approximately 2.4 million rooms, in the fourth quarter of 2025, Lodging Econometrics reported Wednesday. Global pipeline rose 1% year-on-year in the fourth quarter.
- Globally, there were 6,140 projects under construction in the fourth quarter of 2025, according to Lodging Econometrics. Meanwhile, there were 3,845 projects scheduled to begin construction in the next 12 months and a record 5,937 projects in the early planning stages.
- The United States led all other countries for the most hotel projects in the global construction portfolio. Across all countries, top-tier segments drove pipeline growth.
Diving knowledge:
The United States accounted for 39% of the projects in the total global portfolio with 6,146 projects, or 720,089 rooms. China, accounting for 23%, followed the US with the most projects in the pipeline with 3,608 projects, or 644,938 rooms.
The cities with the largest number of projects in the global hotel construction portfolio in the fourth quarter were Dallas (193), Atlanta (159 projects) and Chengdu in China (136 projects).
Upper-tier chain ladders drove pipeline growth during the quarter, with the luxury segment reaching a record 1,328 projects, or 252,544 rooms, up 8% by projects and up 4% by rooms year over year. The luxury segment also reached an all-time high of 1,883 projects and 391,391 rooms, up 9% and 4%, respectively, year-on-year.
In the United States, specifically, the luxury hotel portfolio grew to a record 95 projects, or 22,045 rooms, in the fourth quarter, according to Lodging Econometrics.
Both Hyatt and Marriott International will focus on growing their luxury pipelines in 2026 as their respective brands within the segment drove fourth-quarter performance gains, both companies shared during fourth-quarter earnings. Hospitality professionals told Hotel Dive earlier this year that the luxury segment will see higher growth this year amid a bifurcation of wealth at play in the industry.
Globally, the conversion portfolio reached a record 2,815 projects in Q4, up 13% year-over-year. The 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 luxury collection brand focused primarily on conversions.
