The latest Europe Construction Pipeline Trends Report details that at the end of Q4 2024, the region’s total pipeline stood at 1,661 projects, covering 244,464 rooms, with a 26% increase in conversions.

The study specifies that at the close of the fourth quarter, a total of 736 projects/112,904 rooms were under construction in Europe, to which were added 415 projects/59,719 rooms scheduled to start construction at any time within a year and a further 510 projects/71,841 rooms in the early planning stages.

New project announcements reached an annual peak in the fourth quarter, with 146 projects, corresponding to 18,416 rooms, entering the pipeline.

On the other hand, the report adds, property conversions in Europe at the end of the fourth quarter of 2024 increased by 26% in number of projects and 13% in rooms compared to the previous year, reaching a total of 520 projects/61,550 rooms.

All told, combined with hotel renovation activity in Europe in Q4, property upgrades total 667 projects/84,289 rooms.

High-rise, upper-middle-rise and upper-middle-rise projects continue to dominate the hotel construction pipeline in the fourth quarter. High-end projects lead with 352 projects/54,687 rooms, followed by high-end projects with 322 projects/47,634 rooms and high-end projects with 276 projects/43,428 rooms.

“These three chain scales, combined, represent 57% of projects and 60% of total rooms in the pipeline,” reads the report, which also indicates that “luxury development reached its strongest level since Q4 2019, with 127 projects/16,786 rooms.”

The UK leads the region with 286 projects/40,305 rooms. Germany comes next with 161 projects/26,461 rooms, followed by Türkiye with a record 130 projects/19,038 rooms. France and Portugal complete the five countries with the highest number of projects in Europe in the fourth quarter, with 119 projects/12,078 rooms and 113 projects/14,059 rooms, respectively. In total, these five countries account for 49% of the projects in the region’s total pipeline.

The European cities with the largest projects in Q4 are led by London with 77 projects/14,820 rooms, Istanbul with 49 projects/7,903 rooms, Lisbon with 35 projects/3,976 rooms, Dublin with 24 projects/4,285 rooms, and Tashkent, Uzbekistan with 24 projects/4,091 rooms.