In the distribution of new hotel projects across cities in Europe, London ranks first with 76 investments, while Istanbul is second with 50 new hotel investment projects. In the country rankings, Turkey is in 4th place.
New Hotel Investments Continue in Europe and Turkey
As of the first half of this year, 418 new hotels with a total capacity of 64,835 rooms are being constructed across Europe. Turkey ranks fourth among the countries in Europe with the highest number of new hotel projects.
According to data from Lodging Econometrics' (LE) Q2 2024 European Hotel Construction Pipeline Trend Report, the UK leads in new hotel investments with 306 projects. Germany follows with 178 projects, France with 120, and Turkey is in fourth place with 117 projects. It is expected that 354 new hotel and tourism investment projects will be completed in Turkey by 2026.
Istanbul Ranks 2nd
In terms of the distribution of new hotel investments by city, London ranks first with 76 projects, followed by Istanbul, which is second among European cities with 50 new hotel investment projects. The report also notes that last year, there were 755 hotel projects with a total capacity of 115,300 rooms across Europe. In the first half of this year, there were 418 new hotel investment projects with a total capacity of 64,835 rooms.
21% of New Hotel Investments are in the Luxury Category
The report highlights that, in addition to new hotel investment projects, renovation investments in hotels are also being accelerated. A total of 825 facilities with a capacity of 95,519 rooms across Europe are undergoing renovations. Meanwhile, 128 new hotels were opened across Europe in the first half of the year, with an additional 202 hotels expected to open in the second half, bringing the total number of new hotels opened in 2024 to 330.
100 New Hotels in Turkey
It is anticipated that between 2025 and 2026, 100 new 4- and 5-star hotels will open across Turkey, with a total of 354 new hotel and tourism investment projects expected to be completed by 2026.
Top 5 Countries in Europe with the Most New Hotel Investments:
United Kingdom: 306 projects / 43,515 rooms
Germany: 178 projects / 28,637 rooms
France: 120 projects / 12,831 rooms
Turkey: 117 projects / 17,856 rooms
Portugal: 114 projects / 14,247 rooms
Top 5 Cities in Europe with the Most New Hotel Investments:
London, UK: 76 projects / 14,954 rooms
Istanbul, Turkey: 50 projects / 8,397 rooms
Lisbon, Portugal: 36 projects / 4,425 rooms
Dublin, Ireland: 26 projects / 5,012 rooms
Düsseldorf, Germany: 24 projects / 4,448 rooms