STR Global has released its Construction Pipeline Report for March, with some strong numbers for the EMEA region.
The Europe hotel development pipeline has 925 hotels totaling 149,866 rooms. (This is an increase from 864 hotels and 140,114 rooms reported just last month.) Among the countries in the region, the United Kingdom reported the most rooms under construction with 11,087 rooms. Seven other countries report more than 2,000 rooms under construction: Russia (9,140 rooms); Turkey (6,962 rooms); Germany (6,804 rooms); Poland (2,484 rooms); France (2,445 rooms); Italy (2,392 rooms); and Netherlands (2,140 rooms).
The Middle East/Africa hotel development pipeline, meanwhile, has 573 hotels for a total of 137,193 rooms, up from 504 and 122,631, respectively.
In the remainder of the year, 125 hotels with 27,775 rooms are expected to open. The Unaffiliated segment expects to add the most new rooms (7,803 rooms in 30 hotels), followed by the upper upscale segment (6,559 rooms in 26 hotels) and the luxury segment (5,980 rooms in 25 hotels).
In 2015, 130 hotels with 32,142 rooms are projected to open. The most rooms are expected to be added in the upper upscale segment (12,507 rooms in 42 hotels), followed by the upscale segment (7,689 rooms in 36 hotels) and the luxury segment (4,575 rooms in 21 hotels).
Good to know: The "under-contract" data includes projects in the in-construction, final planning and planning stages but does not include projects in the unconfirmed stage.