Among Europe’s key markets, London, England, reported the largest number of rooms under construction with 5,765 rooms. Four other markets ended the month with more than 1,500 rooms under construction: Istanbul, Turkey (4,489 rooms); Moscow, Russia (2,232 rooms), Berlin, Germany (2,225 rooms); and Amsterdam, Netherlands (1,763 rooms).
The Europe hotel development pipeline comprises 871 hotels totalling 141,828 rooms, according to the January 2014 STR Global Construction Pipeline Report. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Pre-Planning stage.
Among the region’s key markets, London, England, reported the largest number of rooms under construction with 5,765 rooms. Four other markets ended the month with more than 1,500 rooms under construction: Istanbul, Turkey (4,349 rooms); Moscow, Russia (2,232 rooms), Berlin, Germany (2,225 rooms); and Amsterdam, Netherlands (1,763 rooms).
The Middle East/Africa hotel development pipeline comprises 504 hotels totalling 123,019 rooms. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Pre-Planning stage.
Among the Chain Scale segments, the Upper Upscale segment accounted for the largest portion of rooms in the total active pipeline (34.4 percent) with 42,329 rooms. Three other segments each accounted for more than 15 percent of rooms in the total active pipeline: the Luxury segment (19.7 percent with 24,282 rooms); the Upscale segment (18.4 percent with 22,654 rooms); and the Unaffiliated segment (17.3 percent with 21,260 rooms).
The Upper Upscale segment made up the largest portion of rooms under construction (37.7 percent with 25,069 rooms), followed by the Luxury segment (21.3 percent with 14,142 rooms) and the Upscale segment (19.7 percent with 13,088 rooms).
The total active U.S. hotel development pipeline comprises 2,925 projects totaling 357,769 rooms. This represents a 16.4-percent increase in the number of rooms in the total active pipeline compared with January 2013 and a 33.4-percent increase in rooms under construction. The total active pipeline data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Pre-Planning stage.
“Upscale and Upper Midscale segments continue to dominate all phases of the active U.S. development pipeline,” said Bobby Bowers, senior VP of operations at STR. “With more than 60,000 rooms currently under construction, the two segments combined accounted for more than two of every three U.S. hotel rooms currently under construction.
“The Upper Upscale segment ranked third with more than 8,000 rooms in the ground, an increase of over 13.6 percent versus prior year. All STR Chain Scale segments, with Luxury the lone exception, registered double-digit increases in room construction activity, versus January 2013.”
Among the Chain Scale segments, the Upper Upscale segment reported the largest increase in rooms in the total active pipeline, rising 58.8 percent over January 2013 to 24,358 rooms. Two other segments reported increases in rooms in the total active pipeline of more than 15 percent: the Upscale segment (+17.0 percent to 96,348 rooms) and the Unaffiliated segment (+16.9 percent to 105,107 rooms). The Luxury segment was the only segment to report a decrease in rooms in the total active pipeline, falling 7.2 percent to 7,367 rooms.
Five segments reported increases in rooms under construction of more than 20 percent: the Midscale segment (+51.1 percent 5,100 rooms); the Upper Midscale segment (+46.4 percent to 28,906 rooms); the Upscale segment (+38.6 percent to 35,721 rooms); the Unaffiliated segment (+21.8 percent to 13,329 rooms); and the Economy segment (+20.9 percent to 1,167 rooms). The Luxury segment fell 3.3 percent in rooms under construction to 4,577 rooms.
The Caribbean/Mexico hotel development pipeline comprises 160 hotels totaling 26,557 rooms. This represents a 30.0-percent increase in rooms in the active pipeline, compared with January 2013, and a 15.4-percent increase in rooms under construction. The total active pipeline includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Pre-Planning stage.
Among the Chain Scale segments, the Upper Upscale segment reported the largest increase in rooms in the total active pipeline, rising 114.5 percent with 3,366 rooms, followed by the Midscale segment (+84.0 percent with 1,949 rooms) and the Upper Midscale segment (+50.9 percent with 4,918 rooms). The Luxury segment reported the only decrease in rooms in the total active pipeline, falling 6.0 percent with 6,520 rooms.
Looking specifically at the Under Construction stage, the Upper Midscale segment increased 114.1 percent with 2,124 rooms in rooms under construction, reporting the largest increase among the Chain Scale segments. The Upper Upscale segment (+64.0 percent with 946 rooms) and the Upscale segment (+32.4 percent with 1,909 rooms) also reported significant increases in rooms under construction. The Midscale segment posted the largest decrease in rooms under construction, falling 42.1 percent with 449 rooms.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
