STR Global: EMEA hotel pipeline for September 2015

Posted in Business, News on 14 October, 2015

STR Global has released intelligence for hotel development in EMEA. Recent findings show that there are 763 hotels totalling 191,047 rooms Under Contract in the Middle East/Africa region, according to the September 2015 STR Global Construction Pipeline Report. This represents a 26.3 per cent increase in rooms Under Contract compared with September 2014 and a 42.1 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 103,749 rooms in 401 hotels under construction for the month.

Among the region’s key markets, Dubai, United Arab Emirates, reported the largest number of rooms under construction with 19,719 rooms in 67 hotels. Three other markets reported more than 5,000 rooms under construction: Makkah, Saudi Arabia (16,153 rooms in 11 hotels); Doha, Qatar (7,315 rooms in 30 hotels); and Riyadh, Saudi Arabia (6,131 rooms in 25 hotels).

According to the findings, in Europe there are 794 hotels totalling 129,953 rooms Under Contract in Europe, according to the September 2015 STR Global Construction Pipeline Report. This represents a 7.9 per cent decrease in rooms Under Contract compared with September 2014 and a 1.7 per cent year-over-year decrease 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 53,015 rooms in 326 hotels under construction for the month.

Among the countries in the region, the United Kingdom reported the most rooms under construction with 8,871 rooms in 58 hotels. Three other countries reported more than 5,000 rooms under construction: Turkey (8,610 rooms in 51 hotels); Russia (8,088 rooms in 42 hotels); and Germany (6,363 rooms in 33 hotels).

www.str.com