Europe already has 491 luxury hotels in development
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Europe closed the second quarter with 1,736 hotel projects under development, according to data gathered by Hosteltur. They totaled 255,976 rooms. Almost three out of ten fall into the luxury and upper upscale segments. That is, 491 projects at the high end.
Luxury is no longer a niche. It is the most active part of the European pipeline. My take? Premium demand remains strong, but supply is growing too. Having 491 projects on the table means the European luxury hotel market will be a lot more competitive in three or four years.
For hoteliers on the ground, the opportunity lies in distribution and revenue management: more premium supply means more need to stand out and sell smarter. Those with a clear concept and a defined target audience have an edge. Those who just slap 'luxury' on the name will feel it.
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