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STR: EMEA, US, Caribbean/Mexico and Central/South America hotel pipeline for January 2017

STR’s January 2017 Pipeline Report shows 163,648 rooms in 1,038 hotel projects Under Contract in Europe. The total represents a 2.2% decrease in rooms Under Contract compared with January 2016. STR’s January 2017 Pipeline Report shows 575,907 rooms in 4,763 hotel projects Under Contract in the United States.

LONDON – STR’s January 2017 Pipeline 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.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The Under Contract total in the Middle East represents a 5.1% 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% increase in year-over-year comparisons.

The Under Contract total in Africa represents a 5.4% decrease in rooms Under Contract compared with January 2016. Specifically in the In Construction phase, Africa reported 30,213 rooms in 162 hotels. Based on number of rooms, that is a 4.8% increase in year-over-year comparisons.

Four countries in the Middle East and Africa region reported more than 5,000 rooms In Construction:

  • Saudi Arabia (36,742 rooms in 85 projects)
  • United Arab Emirates (28,898 rooms in 99 projects)
  • Qatar (8,462 rooms in 34 projects)
  • Egypt (5,734 rooms in 14 projects)

Europe hotel pipeline
STR’s January 2017 Pipeline Report shows 163,648 rooms in 1,038 hotel projects Under Contract in Europe. The total represents a 2.2% decrease in rooms Under Contract compared with January 2016.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

Europe reported 71,365 rooms in 441 projects In Construction for the month. Based on number of rooms, that is a 14.7% increase in year-over-year comparisons.

Five key markets reported more than 2,000 rooms In Construction:

  • London, England (6,203 rooms in 34 projects)
  • Istanbul, Turkey (4,357 rooms in 22 projects)
  • Moscow, Russia (3,460 rooms in 15 projects)
  • Amsterdam, The Netherlands (2,808 rooms in 13 projects)
  • Munich, Germany (2,524 rooms in 11 projects)

US hotel pipeline
STR’s January 2017 Pipeline Report shows 575,907 rooms in 4,763 hotel projects Under Contract in the United States. The total represents a 16.1% increase in the number of rooms Under Contract compared with January 2016. Under Contract data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Unconfirmed stage.

In the In Construction stage, the U.S. reported 190,301 rooms in 1,449 projects. Based on the number of rooms, that is a 27.3% increase in year-over-year comparisons.

“A little more than 31% of all U.S. hotel construction is occurring in 10 major markets,” said Bobby Bowers, STR’s senior VP of operations. “Consistent demand generators no doubt make these markets attractive for new development, but at the same time, several are seeing occupancy levels and pricing power pressured by the influx of new supply.”

Among the Top 26 Markets, New York, New York, reported the most rooms Under Contract (29,132 rooms) and most rooms In Construction (15,607 rooms).

“New York’s construction amount accounts for 8% of all U.S. construction activity and almost 14% of that market’s existing supply,” Bowers said.

Three additional markets each reported more than 15,000 rooms Under Contract for the month: Dallas, Texas (18,463 rooms); Houston, Texas (17,693 rooms); and Los Angeles/Long Beach, California (16,338 rooms).

“The Super Bowl provided a nice performance boost, but Houston faces continued supply-based headwinds in the battle for improved operating performance,” Bowers said.

Two markets in addition to New York each reported more than 5,000 rooms In Construction: Dallas (7,228 rooms) and Los Angeles/Long Beach (6,070 rooms).

Three markets each reported fewer than 1,000 rooms In Construction: Minneapolis/St. Paul, Minnesota, Wisconsin (887 rooms); Norfolk/Virginia Beach, Virginia (456 rooms); and Oahu Island, Hawaii (180 rooms).

Top 10 U.S. Markets (sorted by In Construction phase)Market

  Existing Supply In Construction
January 2017
In Construction
January 2016
In Construction
YOY % change
New York, NY 115,145 15,607 13,965 +11.8%
Dallas, TX 81,706 7,228 4,278 +69.0%
Los Angeles/Long Beach, CA 98,644 6,070 4,630 +31.1%
Seattle, WA 43,481 5,117 2,872 +78.2%
Houston, TX 85,421 4,778 5,553 -14.0%
Denver, CO 44,894 4,586 2,756 +66.4%
Las Vegas, NV 162,500 4,116 3,905 +5.4%
Washington, DC-MD-VA 110,126 4,069 3,339 +21.9%
Nashville, TN 39,874 3,904 2,163 +80.5%
Chicago, IL 113,867 3,780 3,302 +14.5%

Central/South America hotel pipeline
STR’s January 2017 Pipeline Report shows 63,321 rooms in 404 hotel projects Under Contract in the Central/South America region. The total represents a 14.9% decrease in rooms Under Contract compared with January 2016.

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 28,626 rooms in 175 projects In Construction for the month. Based on number of rooms, that is an 11.7% decrease in year-over-year comparisons.

Three of the region’s key markets reported more than 1,000 rooms In Construction:

  • Bogotá, Colombia (1,441 rooms in five projects)
  • São Paulo, Brazil (1,205 rooms in six projects)
  • Lima, Peru (1,203 rooms in seven projects).

Caribbean/Mexico hotel pipeline
STR’s January 2017 Pipeline Report shows 33,833 rooms in 199 hotel projects Under Contract in the Caribbean/Mexico region. The total represents a 4.4% increase in rooms Under Contract compared with January 2016.

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 12,818 rooms in 81 projects In Construction for the month. Based on number of rooms, that is a 9.4% decrease in year-over-year comparisons.

Among the region’s key markets, Central Mexico (4,741 rooms in 36 projects) reported the largest number of rooms In Construction.

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