Istanbul leads European hotel development19 Aug, 2013 By: David Eisen
As global markets continue to improve, the hotel industry is coming along for the ride. New data from STR suggest so. In Europe, the hotel development pipeline comprises 813 hotels totalling 133,797 rooms, according to the July 2013 STR Global Construction Pipeline Report. Regarding the U.S., the total active pipeline comprises 2,730 projects totaling 328,382 rooms.
And in Europe, Turkey, particularly Istanbul, continues to thrive. It reportedly has the largest number of rooms under construction with 4,273. Carlson Rezidor is particularly active in the region. It is set to open its seventh property in Istanbul with the Radisson Blu Conference & Spa Hotel, Istanbul Tuzla, which will open in the fourth quarter. Meanwhile, Carlson Rezidor just opened the 130-room Istanbul Pera Radisson Blu Hotel. The hotel is located in the Pera Taksim district, and overlooks the Golden Horn with views of the city and harbour.
Wyndham Hotel Group has also been active in the region. The Wyndham Istanbul Levent is currently under construction and will become Turkey's fourth Wyndham when it opens next year. Wyndham also opened its first hotel outside Istanbul in May with the 219-room Wyndham Izmir Özdilek, which overlooks the Izmir Bay.
Both hotels are part of franchise agreements with Özdilek Otel Turizm Isletmeciligi Ve Ticaret Limited Sirketi, a company belonging to the Özdilek Holding group.
They will join the Wyndham Istanbul Kalamis Marina, which opened last December, and Wyndham Istanbul Petek, which opened earlier this summer.
Six other European markets reported more than 1,000 rooms under construction: London (3,715 rooms); Berlin (2,768 rooms); Moscow (1,955 rooms); Amsterdam (1,808 rooms); Vienna (1,632 rooms); and Madrid (1,242 rooms).
The U.S. has seen a 9.1-percent increase in the number of rooms in the total active pipeline compared with July 2012 and a 23.1-percent increase in rooms under construction, STR reported.
Among chain scales, the upper-upscale segment reported the largest increase in rooms in the total active pipeline, rising 20.5 percent with 21,050 rooms.
The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Pre-Planning stage.
Topic : Hotel Pipeline
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