STR’s January 2017 Pipeline Report has some interesting numbers for upcoming properties across Europe, the Middle East and Africa. While the Middle East’s pipeline keeps on growing, Europe and Africa are seeing fewer hotels on the horizon—although all regions have more rooms coming up.
According to the report, Europe has 163,648 rooms in 1,038 hotel projects under contract in Europe, a 2.2-percent decrease in rooms under contract compared with January 2016.
It isn’t all bad, though: Europe reported 71,365 rooms in 441 projects under construction for January, and based on number of rooms, that is a 14.7-percent increase in year-over-year comparisons.
Five key markets reported more than 2,000 rooms under construction:
- London, England (6,203 rooms in 34 hotels)
- Istanbul, Turkey (4,357 rooms in 22 hotels)
- Moscow, Russia (3,460 rooms in 15 hotels)
- Amsterdam, The Netherlands (2,808 rooms in 13 hotels)
- Munich, Germany (2,524 rooms in 11 prohotelsects)
Middle East & Africa
For the MEA region, the report shows 159,581 rooms in 556 hotel projects under contract in the Middle East and 58,850 rooms in 313 projects under contract in Africa.
The under-contract total in the Middle East is a 5.1-percent increase in rooms under contract compared with January 2016. Specifically in the in-construction phase, the Middle East reported 85,827 rooms in 269 hotels. Based on number of rooms, that is a 6.8-percent increase in year-over-year comparisons.
The under-contract total in Africa represents a 5.4 percent decrease in rooms under contract compared with January 2016. Africa reported 30,213 rooms in 162 hotels currently under construction—a 4.8-percent increase in year-over-year comparisons in terms of guestrooms.
Four countries in the Middle East and Africa region reported more than 5,000 rooms in construction:
- Saudi Arabia (36,742 rooms in 85 hotels)
- United Arab Emirates (28,898 rooms in 99 hotels)
- Qatar (8,462 rooms in 34 hotels)
- Egypt (5,734 rooms in 14 hotels)
For the purposes of the report, “under contract” data includes projects in the in construction, final planning and planning stages, but does not include projects in the Unconfirmed stage.