17:15 - 25.02.2025

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February 25, Fineko/abc.az. The global development of the hotel business has reached a record level: currently, nearly 16,000 projects are under development.

ABC.AZ informs that in their latest report, experts noted that by the end of 2024, there were 15,820 hotel facilities with almost 2.5 million rooms in the world at various stages of development, with Europe accounting for about 10% of them (1,661 hotel facilities for 244,464 rooms).

The U.S. share of this volume is close to 40% (slightly less than 6,400 projects), while China's share is 24% (approx. 3,800 new hotels).

"Noticeable growth" is observed in India, where the number of projects has increased by 35% over the past year up to almost 700.

Canada (333 projects) and Saudi Arabia (316 facilities) complete the list of Top 5 of countries in terms of the pace of hotel business development in the world.

The largest European market at the end of 2024 was the UK (286 projects with more than 40,000 rooms). Germany ranks 2nd (161 hotels), followed by Turkey, France and Portugal.