Europe hotel pipeline for November 2015
There are 839 hotels totalling 137,976 rooms Under Contract in Europe, according to the November 2015 STR Global Construction Pipeline Report. This represents a 2.5 per cent decrease in rooms Under Contract compared with November 2014 but a 2.0 per cent year-over-year increase in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 55,623 rooms in 340 hotels under construction for the month.
Among the Chain Scale segments, the Upper Midscale segment accounted for the largest portion of rooms in Under Contract (23.6 per cent with 32,584 rooms). Three other segments each accounted for more than 15.0 per cent of rooms in Under Contract: the Upscale segment (23.1% with 31,857 rooms); the Upper Upscale segment (15.2 per cent with 20,960 rooms); and the Unaffiliated segment (15.1 per cent with 20,768 rooms).
The Upscale segment made up the largest portion of rooms under construction (27.2 per cent with 15,123 rooms), followed by the Upper Upscale segment (20.8 per cent with 11,573 rooms) and the Upper Midscale segment (18.6 per cent with 10,331 rooms).