Europe reported 54,943 rooms in 341 hotels under construction for the month. United Kingdom reported the most rooms under construction with 10,425 rooms in 72 hotels. Among MEA’s key markets, Dubai, United Arab Emirates, reported the largest number of rooms under construction with 17,358 rooms in 68 hotels.
There are 805 hotels totalling 130,652 rooms Under Contract in Europe, according to the June 2015 STR Global Construction Pipeline Report. This represents a 10.2-percent decrease in rooms Under Contract compared with June 2014 and a 7.6-percent year-over-year decrease in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 54,943 rooms in 341 hotels under construction for the month.
Among the countries in the region, the United Kingdom reported the most rooms under construction with 10,425 rooms in 72 hotels. Three other countries reported more than 5,000 rooms under construction: Turkey (8,906 rooms in 51 hotels); Russia (8,554 rooms in 45 hotels); and Germany (6,827 rooms in 41 hotels).
Middle East/Africa hotel pipeline
There are 659 hotels totalling 168,361 rooms Under Contract in the Middle East/Africa region. This represents a 17.0-percent increase in rooms Under Contract compared with June 2014 and a 44.3-percent year-over-year increase in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 95,162 rooms in 366 hotels under construction for the month.
Among the region’s key markets, Dubai, United Arab Emirates, reported the largest number of rooms under construction with 17,358 rooms in 68 hotels. Three other markets reported more than 5,000 rooms under construction: Makkah, Saudi Arabia (14,882 rooms in nine hotels); Riyadh, Saudi Arabia (6,551 rooms in 26 hotels); and Doha, Qatar (6,119 rooms in 25 hotels).
US hotel pipeline
There are 3,511 projects totaling 426,043 rooms Under Contract in the United States. This represents an 11.1-percent increase in the number of rooms Under Contract compared with June 2014 and a 20.9-percent year-over-year increase in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
Among the Chain Scale segments, the Luxury segment reported the largest year-over-year increase in rooms Under Contract, rising 46.5 percent to 10,716 rooms. The Upper Upscale segment followed with a 30.5-percent increase to 34,124 rooms.
The Unaffiliated segment (-21.0 percent to 83,792 rooms) reported the largest decrease in the number of rooms Under Contract.
All segments but Midscale (-13.6 percent to 4,077 rooms) reported a double-digit increase in rooms under construction. Two of those segments reported an increase of more than 30.0 percent. The Luxury segment reported the largest year-over-year increase, rising 57.3 percent to 5,468 rooms.
“When looking at the In Construction stage, Upscale and Upper Midscale brands combine to account for nearly 86,000 rooms, which is roughly two-thirds of total U.S. construction activity,” said Bobby Bowers, STR’s senior VP for operations. “However, Luxury and Upper Upscale brands reported the most significant percentage growth in year-over-year comparisons. STR currently expects full-year 2015 U.S. net room supply growth of 1.3 percent.”
Caribbean/Mexico hotel pipeline
There are 172 hotels totaling 29,938 rooms Under Contract in the Caribbean/Mexico region. This represents an 8.1-percent increase in rooms Under Contract compared with June 2014 and a 1.9-percent year-over-year decrease in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 12,561 rooms in 69 hotels under construction for the month.
Among the countries in the region, Mexico reported the most rooms under construction with 8,321 rooms in 55 hotels.
Central/South America hotel pipeline
There are 438 hotels totalling 68,618 rooms Under Contract in the Central/South America region. This represents a 4.8-percent increase in rooms Under Contract compared with June 2014 and a 24.9-percent year-over-year increase in rooms under construction. The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 30,217 rooms in 189 hotels under construction for the month.
Among the countries in the region, Brazil reported the most rooms under construction with 18,572 in 107 hotels. Four other countries each reported more than 1,000 rooms under construction: Colombia (3,085 rooms in 21 hotels); Argentina (1,447 rooms in 11 hotels); Chile (1,343 rooms in 10 hotels); and Panama (1,113 rooms in seven hotels).
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
