Market Context
Global Tourism Hit Record Highs in 2025 — and the Development Pipeline Cannot Keep Up
International tourist arrivals exceeded pre-pandemic peaks in 2025 for every major destination market. Dubai, Tokyo, Barcelona, Paris, and New York are all recording RevPAR at or above historic highs. The development pipeline, constrained by construction costs and planning timelines, is running materially below the demand signal in every top-10 global hotel market.
7.2%
Luxury Hotel RE CAGR 2025–2035
Troview Coverage
City-Level Hotel Market Intelligence for Institutional Investors
From the Global Hospitality Real Estate Market through to the Dubai city deep-dive — covering 20,000+ luxury hotel keys in pipeline — and the Tokyo, Paris, Barcelona, and London city reports, Troview delivers the submarket precision that hotel REIT investors and PE real estate funds require.
USD 9.05B
Dubai Ultra-Prime RE Sales 2025