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STR: EMEA, US, Central/South America and Caribbean/Mexico hotel pipeline for August 2016

The Under Contract total in the Middle East represents a 20.1% increase in rooms Under Contract compared with August 2015. The Under Contract total in Africa represents a 25.4% increase in rooms Under Contract compared with August 2015. STR’s August 2016 Pipeline Report shows 542,419 rooms in 4,460 projects Under Contract in the United States.

LONDON — STR’s August 2016 Pipeline Report shows 156,460 rooms in 554 projects Under Contract in the Middle East and 56,846 rooms in 300 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 20.1% increase in rooms Under Contract compared with August 2015. Specifically in the In Construction phase, the Middle East reported 83,653 rooms in 261 hotels, a 14.4% increase in year-over-year comparisons.

The Under Contract total in Africa represents a 25.4% increase in rooms Under Contract compared with August 2015. Specifically in the In Construction phase, Africa reported 29,928 rooms in 157 hotels, a 22.6% increase in year-over-year comparisons.

Among the countries in the Middle East and Africa, Saudi Arabia reported the most rooms In Construction with 35,611 rooms in 79 hotels. United Arab Emirates followed with 28,082 rooms in 97 hotels. Four other countries each reported more than 3,000 rooms In Construction: Qatar (7,980 rooms in 34 hotels), Egypt (6,128 rooms in 18 hotels), Jordan (3,161 rooms in 10 hotels) and Angola (3,157 rooms in 26 hotels).

US hotel pipeline for August 2016
STR’s August 2016 Pipeline Report shows 542,419 rooms in 4,460 projects Under Contract in the United States. The total represents a 23.3% increase in the number of rooms Under Contract compared with August 2015.

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 170,221 rooms in 1,306 projects, a 28.6% increase in year-over-year comparisons.

Among the Chain Scale segments, Upscale (58,548 rooms in 425 hotels) accounted for the most rooms In Construction followed by Upper Midscale (55,095 rooms in 543 hotels).

Demand has continued to grow in the Upscale and Upper Midscale segments, but supply grew at a slightly quicker pace through the first seven months of the year,” said Bobby Bowers, STR’s senior VP for operations. “That supply growth will continue as more than two-thirds of all U.S. hotel room construction currently falls under the select-service umbrella. How long demand growth holds up will ultimately dictate how long hoteliers can maintain pricing power. With occupancy growth having flattened out, rate has become the sole driver of RevPAR (revenue per available room).

The Upper Upscale segment (+73.2% to 19,978 rooms) reported the largest year-over-year percentage increase in rooms In Construction.

Economy reported the largest percentage increase for rooms Under Contract (+57.0% to 8,846 rooms) despite having the smallest overall number of rooms in the pipeline.

Even though the Economy Under Contract total was up, construction activity in the segment was down more than 20% compared with last August,” Bowers said. “All of the other segments reported a year-over-year increase in construction.”

U.S. pipeline by Chain Scale segment (number of rooms % change August 2016 versus August 2015):

Chain Scale Existing Supply % Change In Construction % Change Under Contract % Change
Luxury 110,990 +2.9% 6,099 +2.9% 11,965 +4.6%
Upper Upscale 585,125 +1.1% 19,978 +73.2% 48,764 +45.2%
Upscale 694,554 +7.2% 58,548 +23.1% 154,332 +21.6%
Upper Midscale 912,932 +3.5% 55,095 +31.1% 179,883 +22.9%
Midscale 475,553 -0.4% 6,903 +55.5% 41,798 +53.6%
Economy 780,178 -0.1% 1,482 -21.3% 8,846 +57.0%
Unaffiliated 1,530,836 -0.4% 22,116 +16.1% 96,831 +9.2%
             
Total 5,090,168 +1.6% 170,221 +28.6% 542,419 +23.3%

 

Europe hotel pipeline for August 2016
STR’s August 2016 Pipeline Report shows 150,530 rooms in 1,055 projects Under Contract in Europe. The total represents a 15.7% increase in rooms Under Contract compared with August 2015.

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 64,454 rooms in 433 projects In Construction for the month, which is a 19.9% increase in year-over-year comparisons.

Among the countries in the region, the United Kingdom reported the most rooms In Construction with 15,643 rooms in 148 hotels. Three additional countries reported more than 5,000 rooms in the construction phase: Germany (11,006 rooms in 56 hotels), Turkey (7,951 rooms in 52 hotels) and Russia (7,537 rooms in 37 hotels).

Central/South America hotel pipeline
STR’s August 2016 Pipeline Report shows 63,681 rooms in 407 projects Under Contract in the Central/South America region. The total represents a 5.3% decrease in rooms Under Contract compared with August 2015.

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 27,908 rooms in 172 projects In Construction for the month, which is a 9.0% decrease in year-over-year comparisons.

Among the countries in the region, Brazil reported the most rooms In Construction with 16,710 rooms in 94 hotels. Four additional countries each reported more than 1,000 rooms In Construction: Colombia (3,182 rooms in 20 hotels); Peru (1,064 rooms in nine hotels); Argentina (1,023 rooms in eight hotels); and Chile (1,016 rooms in seven hotels).

Caribbean/Mexico hotel pipeline
STR’s August 2016 Pipeline Report shows 27,951 rooms in 172 projects Under Contract in the Caribbean/Mexico region. The total represents a 1.7% decrease in rooms Under Contract compared with August 2015.

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 13,098 rooms in 82 projects In Construction for the month, which is a 0.9% increase in year-over-year comparisons.

Among the countries in the region, Mexico reported the most rooms In Construction with 8,306 rooms in 60 hotels. The Dominican Republic (1,512 rooms in six hotels) was the only other country to report more than 1,000 rooms In Construction.

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