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STR Global: EMEA, US and Mexico hotel pipeline for October 2015

Among Europe's key markets, Istanbul, Turkey, reported the most rooms under construction with 4,760 rooms in 23 hotels. Three other markets reported more than 2,000 rooms under construction: Greater London, England (3,835 rooms in 22 hotels); Moscow, Russia (3,591 rooms in 15 hotels); and Greater Amsterdam, Netherlands (2,343 rooms in 10 hotels).

There are 812 hotels totalling 133,317 rooms Under Contract in Europe, according to the October 2015 STR Global Construction Pipeline Report. This represents a 6.6% decrease in rooms Under Contract compared with October 2014 but a 0.3% 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 54,912 rooms in 336 hotels under construction for the month.

Among the region’s key markets, Istanbul, Turkey, reported the most rooms under construction with 4,760 rooms in 23 hotels. Three other markets reported more than 2,000 rooms under construction: Greater London, England (3,835 rooms in 22 hotels); Moscow, Russia (3,591 rooms in 15 hotels); and Greater Amsterdam, Netherlands (2,343 rooms in 10 hotels).

Middle East/Africa hotel pipeline
There are 781 hotels totalling 195,705 rooms Under Contract in the Middle East/Africa region. This represents a 29.1% increase in rooms Under Contract compared with October 2014 and a 43.1% 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 105,177 rooms in 407 hotels under construction for the month.

Among the Chain Scale segments, the Upper Upscale segment accounted for the largest portion of rooms in the Under Contract stage, 30.1% with 58,812 rooms. Four other segments each accounted for more than 10.0% of rooms Under Contract: Upscale (21.6% with 42,350 rooms); Luxury (14.8% with 29,005 rooms); Unaffiliated (14.7% with 28,816 rooms); and Upper Midscale (10.1% with 19,728 rooms).

The Upper Upscale segment also made up the largest portion of rooms under construction, 32.6% with 34,296 rooms. Three other segments each accounted for more than 15.0% of rooms In Construction: Unaffiliated (21.5% with 22,641 rooms); Upscale (17.6% with 18,499 rooms); and Luxury (15.5% with 16,346 rooms).

The Economy segment accounted for the smallest portion of rooms Under Contract (0.4% with 839 rooms) and In Construction (0.4% with 401 rooms).

US hotel pipeline
There are 3,780 projects totaling 454,893 rooms Under Contract in the United States. This represents a 12.7% increase in the number of rooms Under Contract compared with October 2014 and a 21.9% 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 Economy segment reported the largest year-over-year increase in rooms Under Contract, rising 63.5% to 6,711 rooms. The Luxury segment followed with a 30.0% increase to 11,862 rooms.

“Economy and Luxury chains represent the smallest portions of the pipeline, but each reported significant growth in activity when compared with last October,” said Bobby Bowers, STR’s senior VP of operations.

The Unaffiliated segment (-14.1% to 89,972 rooms) reported the only decrease in the number of rooms Under Contract.

All segments with the exception of Midscale (+1.5% to 5,220 rooms) reported a double-digit increase in rooms under construction. Two of the segments reported an increase of more than 100.0%:  Economy (+134.8% to 1,719 rooms) and Luxury (+107.6% to 7,353 rooms).  

“Although they rank in the middle of the pack for year-over-year percentage changes, Upscale and Upper Midscale chains continue to rule overall construction, representing more than two-thirds of the U.S. total,” Bowers said. “It also is important to note that the Upper Upscale, Upscale and Upper Midscale segments each showed a roughly 80% or higher spike in rooms in Final Planning. More construction in those segments is on the way.”

Caribbean/Mexico hotel pipeline
There are 164 hotels totaling 28,046 rooms Under Contract in the Caribbean/Mexico region. This represents a 4.7% decrease in rooms Under Contract compared with October 2014 and a 12.9% 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 12,186 rooms in 68 hotels under construction for the month.

Among the Chain Scale segments, four segments each accounted for 15.0% or more of rooms Under Contract: Upscale (22.9% with 6,433 rooms); Luxury (20.7% with 5,799 rooms); Upper Upscale (17.2% with 4,825 rooms); and Upper Midscale (17.0% with 4,772 rooms).

The Luxury segment accounted for the largest portion of rooms In Construction at 34.9% (4,258 rooms). Two other segments each accounted for more than 15.0% of rooms In Construction: Upper Midscale (18.0% with 2,191 rooms) and Upscale (16.8% with 2,047 rooms).

Theodore Koumelis
Co-Founder & Managing Director - Travel Media Applications | Website

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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