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HomeRegional NewsEuropeEurope’s construction pipeline stands at 912 projects/153,189 rooms, down 11% from Q2 2008’s
Lodging Econometrics Q1 2009 OverviewLodging Econometrics Q1 2009 Overview

Europe’s construction pipeline stands at 912 projects/153,189 rooms, down 11% from Q2 2008’s

The global economic crisis, which has affected credit availability and caused decreases in consumer and business travel, resulting in occupancy and room rates declines throughout EMEA, is also having a serious impact on lodging development.

At the end of Q1 2009, Europe’s Construction Pipeline stands at 912 projects/153,189 rooms, down 11% from Q2 2008’s cyclical peak. Of the total Pipeline, 457 projects/78,155 rooms are Under Construction, the lowest level seen since Q3 2007. Project and room counts in the Start Construction in the Next 12 Months and Early Planning stages remain high, as project migration toward Under Construction is significantly slowed by the lack of attractive financing.

At 477 projects/142,702 rooms, the Middle East Total Pipeline has fallen 14% and 13%, respectively, from the Q2 2008 peak. Over 53% of the region’s total Pipeline projects are currently Under Construction. New Hotel Openings are expected to accelerate in 2009, 2010 and into 2011, as these large, iconic projects come online. The Pipeline in Dubai is at 124 projects/48,558 rooms, representing 34% of all guest room development in the region. Dubai’s average project size is 392 rooms, one of the highest for any country or market worldwide, second only to Las Vegas.

The Total Pipeline in Africa is 174 projects/35,253 rooms, a 3% decline by projects and 4% by rooms from the peak. With 47 projects/9,175 rooms, Morocco makes up 27% of the continent’s Total Pipeline projects, followed by South Africa, 25 projects/4,250 rooms.

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