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European Hotel Openings to Drop

The Continent will see a sharp decline in new hotel deliveries through the end of the decade, but mega-projects in the Middle East are still coming on line.

By Maria Wood | Updated on September 24, 2009

In its forecast for new hotel openings in the Europe, Middle East and Africa (EMEA) region, Lodging Econometrics finds that deliveries in Europe are expected to wane in the next two years after reaching a peak in the second quarter of 2008. However, due to a preponderance of outsized luxury projects, the Middle East will continue to witness a healthy number of new lodging properties coming on line.

In Europe, new project openings peaked in Q2 2008 at 312 hotels with 43,219 rooms. In 2009, LE forecasts 251 hotels with 36,974 rooms will welcome guests, followed by 230 projects/38,688 rooms opening in 2010. Yet in 2011, those numbers will decline by 36% from the Q2 ’08 peak, resulting in 147 hotels with a total of 27,547 rooms being delivered.

Within the Continent, the financing freeze has hit individual countries and regions differently, notes Patrick Ford, president of locally based LE. For example, France and Germany have experienced small gains in GDP and Russia is likely to follow suit. The same cannot be said for Eastern Europe as a whole.

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