In October, Germany reclaimed the top spot for rooms under construction in Europe, coming out ahead of the UK, according to the latest data from STR.
Through October, Europe had 142,336 hotel rooms under construction, with Germany leading the way with 44,645 rooms, 7 percent of its existing supply. The UK came in second with 38,455 guestrooms under construction. As noted earlier in the month, London is set to see an 8-percent rooms-supply increase next year, with a 5-percent increase in the regions—a rise on this year’s 2 percent growth in both London and the regions.
Behind those two stalwarts, Turkey and Russia fared well with 6,448 and 6,031 guestrooms, respectively, but France only has 4,791 rooms under construction—or 0.9 percent of its existing supply. This does not necessarily paint a bleak picture for France's hotel sector and could in fact indicate strong opportunities in the future, the data suggests.
In total, Europe has 1,165 properties under construction, with 1,334 hotels in the final planning stage and another 1,664 in the planning stage.