The October 2014 STR Global Construction Pipeline Report revealed some solid numbers for the EMEA region, with more than 1,500 hotels currently in development.
The Europe hotel development pipeline includes 905 hotels with a total of 142,785 rooms. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
Year-to-date 2014, 391 hotels with 61,961 rooms have opened in Europe. In the remainder of the year, 74 more hotels with 8,412 rooms are planned to open. The Upper Midscale segment (19 hotels with 1,973 rooms) and the Economy segment (14 hotels with 1,933 rooms) are expected to open the most rooms.
In 2015, 235 hotels with 36,788 rooms are expected to open. The Upscale segment is planning to add 10,399 rooms within 60 hotels, the most rooms of all the Chain Scale segments. Three other segments are expecting to add more than 5,000 rooms in 2015: the Upper Midscale segment (6,224 rooms within 41 hotels); the Upper Upscale segment (5,583 rooms within 27 hotels); and the Economy segment (5,045 rooms within 30 hotels).
The Middle East/Africa hotel region reported 646 hotels Under Contract totalling 151,579 rooms.
Among the Chain Scale segments, the Upper Upscale segment accounted for the largest portion of rooms Under Contract (36.4 percent) in the region with 55,172 rooms. Three other segments each accounted for more than 10.0 percent of rooms Under Contract: the Luxury segment (18.9 percent with 28,628 rooms); the Upscale segment (18.4 percent with 27,833 rooms); and the Unaffiliated segment (14.1 percent with 21,327 rooms).
The Upper Upscale segment accounted for the largest portion of rooms In Construction (37.4 percent) with 27,503 rooms, followed by the Luxury segment (21.7 percent with 15,952 rooms) and the Upscale segment (19.6 percent with 14,429 rooms).