The Under Contract total in the Middle East subcontinent represents a 42.8% increase in rooms Under Contract compared with January 2015 and a 50.4% year-over-year increase in rooms under construction. Among Europe's key markets, Greater London, England, reported the most rooms under construction with 4,792 rooms in 33 hotels.
There are 1,152 hotels totalling 167,251 rooms Under Contract in Europe, according to the January 2016 STR Global Pipeline Report. This represents a 15.8% increase in rooms Under Contract compared with January 2015 and a 6.3% 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 62,205 rooms in 460 hotels under construction for the month.
Among the region’s key markets, Greater London, England, reported the most rooms under construction with 4,792 rooms in 33 hotels. Three other markets reported more than 2,000 rooms under construction: Istanbul, Turkey (4,679 rooms in 24 hotels); Moscow, Russia (3,830 rooms in 16 hotels); and Greater Berlin, Germany (2,330 rooms in six hotels).
For our media partners, STR, Inc. releases U.S. hotel development pipeline data for January 2016. The media release is pasted below and attached as a Word file for your convenience. Also attached is the STR logo. Please source STR, Inc. when using information from this media release.
Middle East and Africa hotel pipeline
There are 538 hotels totalling 151,771 rooms Under Contract in the Middle East and 321 hotels totalling 62,194 rooms 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 subcontinent represents a 42.8% increase in rooms Under Contract compared with January 2015 and a 50.4% year-over-year increase in rooms under construction. The Middle East reported 80,350 rooms in 251 hotels under construction for the month.
The Under Contract total in the Northern Africa and Southern Africa subcontinents represents a 49.3% increase in rooms Under Contract compared with January 2015 and a 40.5% year-over-year increase in rooms under construction. Africa reported 28,840 rooms in 156 hotels under construction for the month.
Among the key markets in the Middle East and Africa, Makkah, Saudi Arabia, reported the largest number of rooms under construction with 21,068 rooms in 13 hotels. Three other markets reported more than 5,000 rooms under construction: Dubai, United Arab Emirates (19,846 rooms in 63 hotels); Riyadh, Saudi Arabia (6,738 rooms in 30 hotels); and Doha, Qatar (5,980 rooms in 26 hotels).
US hotel pipeline
There are 4,084 projects totaling 496,184 rooms Under Contract in the United States. This represents a 13.0% increase in the number of rooms Under Contract compared with January 2015 and a 17.1% 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.
“Nearly 49% of U.S. hotel room construction is occurring in the 26 markets with the highest existing supply numbers,” said Bobby Bowers, STR’s senior VP for operations.
Among those Top 26 Markets, New York, New York, reported the most rooms Under Contract (34,217 rooms) and most rooms In Construction (14,544 rooms).
“New York continues to rank atop the pipeline list while accounting for roughly 10% of all U.S. room construction activity,” Bowers said. “New York’s under construction total also represents more than 12% of its existing room supply-by far the highest percentage of the 26 largest U.S. markets.”
Six additional markets each reported more than 10,000 rooms Under Contract for the month: Houston, Texas (18,069 rooms); Dallas, Texas (15,088 rooms); Miami/Hialeah, Florida (13,033 rooms); Los Angeles/Long Beach, California (12,354 rooms); Orlando, Florida (10,979 rooms); and Washington, D.C.-Maryland-Virginia (10,578 rooms).
Seven markets in addition to New York each reported more than 3,000 rooms under construction: Houston (5,553 rooms); Los Angeles/Long Beach (4,630 rooms); Dallas (4,278 rooms); Las Vegas, Nevada (3,905 rooms); Miami/Hialeah (3,896 rooms); Washington, D.C. (3,339 rooms); and Chicago, Illinois (3,302 rooms).
“New supply in Houston and lagging demand due to low oil prices will create significant headwinds for that market in 2016,” Bowers said.
Three markets each reported fewer than 500 rooms under construction: Oahu Island, Hawaii (482 rooms); St. Louis, Missouri-Illinois (407 rooms); and Norfolk/Virginia Beach, Virginia (300 rooms).
Top 10 U.S. Markets by rooms in the In Construction phase
| Market | Existing Supply | In Construction January 2016 | In Construction January 2015 | In Construction YOY % change |
| New York, NY | 117,847 | 14,544 | 14,272 | +1.9% |
| Houston, TX | 80,528 | 5,553 | 5,603 | -0.9% |
| Los Angeles/Long Beach, CA | 98,303 | 4,630 | 3,051 | +51.8% |
| Dallas, TX | 80,140 | 4,278 | 2,479 | +72.6% |
| Las Vegas, NV | 167,689 | 3,905 | 103 | +3,691.3% |
| Miami/Hialeah, FL | 51,841 | 3,896 | 3,983 | -2.2% |
| Washington, DC-MD-VA | 107,991 | 3,339 | 3,440 | -2.9% |
| Chicago, IL | 111,422 | 3,302 | 3,200 | +3.2% |
| Seattle, WA | 42,621 | 2,872 | 2,543 | +12.9% |
| Denver, CO | 43,591 | 2,756 | 1,719 | +60.3% |
Source: STR, Inc. / * Data as of 31 January 2016
Caribbean/Mexico hotel pipeline
There are 188 hotels totaling 32,400 rooms Under Contract in the Caribbean/Mexico region, according to the January 2016 STR Pipeline Report. This represents a 12.9% increase in rooms Under Contract compared with January 2015 and a 32.9% 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.
The region reported 14,148 rooms in 77 hotels under construction for the month.
Among the region’s key markets, Central Mexico (4,069 rooms in 30 hotels) reported the largest number of rooms under construction, followed by Yucatan Peninsula, Mexico (1,611 rooms in six hotels) and Northwest Mexico (1,189 rooms in 10 hotels).
Central/South America hotel pipeline
There are 472 hotels totalling 74,402 rooms Under Contract in the Central/South America region, according to the January 2016 STR Global Pipeline Report. This represents a 6.7% increase in rooms Under Contract compared with January 2015 and a 20.5% 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 32,435 rooms in 196 hotels under construction for the month.
Among the region’s key markets, Rio de Janeiro, Brazil, reported the largest number of rooms under construction with 4,336 rooms in 19 hotels. Sao Paulo, Brazil (1,326 rooms in six hotels), and Panama City, Panama (1,076 rooms in six hotels), were the only other markets to each end the month with more than 1,000 rooms under construction hotel pipeline for January 2016.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
