There are 794 hotels totalling 129,953 rooms Under Contract in Europe. This represents a 7.9% decrease in rooms Under Contract compared with September 2014 and a 1.7% year-over-year decrease in rooms under construction. New York, New York, reported the most rooms Under Contract with 31,849 rooms in the US.
There are 763 hotels totalling 191,047 rooms Under Contract in the Middle East/Africa region, according to the September 2015 STR Global Construction Pipeline Report. This represents a 26.3% increase in rooms Under Contract compared with September 2014 and a 42.1% 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 103,749 rooms in 401 hotels under construction for the month.
Among the region’s key markets, Dubai, United Arab Emirates, reported the largest number of rooms under construction with 19,719 rooms in 67 hotels. Three other markets reported more than 5,000 rooms under construction: Makkah, Saudi Arabia (16,153 rooms in 11 hotels); Doha, Qatar (7,315 rooms in 30 hotels); and Riyadh, Saudi Arabia (6,131 rooms in 25 hotels).
Europe hotel pipeline for September 2015
There are 794 hotels totalling 129,953 rooms Under Contract in Europe. This represents a 7.9% decrease in rooms Under Contract compared with September 2014 and a 1.7% 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 53,015 rooms in 326 hotels under construction for the month.
Among the countries in the region, the United Kingdom reported the most rooms under construction with 8,871 rooms in 58 hotels. Three other countries reported more than 5,000 rooms under construction: Turkey (8,610 rooms in 51 hotels); Russia (8,088 rooms in 42 hotels); and Germany (6,363 rooms in 33 hotels).
US hotel pipeline
There are 3,696 projects totaling 441,397 rooms Under Contract in the United States. This represents an 11.7% increase in the number of rooms Under Contract compared with September 2014 and a 19.6% year-over-year increase in rooms under construction. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
“The markets with the highest counts of existing supply continue to be the most popular for new projects,” said Bobby Bowers, STR’s senior VP for operations. “The Top 26 Markets accounted for nearly 49.0% of rooms In Construction in the U.S. and almost 41.0% of rooms in Final Planning. And 19 of those markets experienced higher room construction numbers when compared with last September.”
New York, New York, reported the most rooms Under Contract with 31,849 rooms. Four additional markets reported more than 10,000 rooms Under Contract for the month: Houston, Texas (18,365 rooms); Dallas, Texas (12,350 rooms); Miami/Hialeah, Florida (10,615 rooms); and Washington, D.C.-Maryland-Virginia (10,164 rooms).
New York also had the largest number of rooms under construction with 13,107 rooms. Houston followed with 6,639 rooms In Construction.
“The New York, New York, market accounted for roughly 10.0% of total U.S. construction activity in September, and the 13,000-plus rooms under construction in that market represent a little more than 11.0% of its existing supply,” Bowers said.
Five other markets reported more than 3,000 rooms under construction: Los Angeles/Long Beach, California (4,052 rooms); Las Vegas, Nevada (3,905 rooms); Washington, D.C.-Maryland-Virginia (3,588 rooms); Dallas (3,427 rooms); and Miami/Hialeah (3,314 rooms).
Four markets reported less than 500 rooms under construction: San Francisco/San Mateo, California (430 rooms); Norfolk/Virginia Beach, Virginia (394 rooms); St. Louis, Missouri-Illinois (332 rooms); and Oahu Island, Hawaii (zero rooms).
Central/South America hotel pipeline
There are 422 hotels totalling 67,129 rooms Under Contract in the Central/South America region. This represents a 4.8% decrease in rooms Under Contract compared with September 2014, but a 13.7% 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 30,481 rooms in 185 hotels under construction for the month.
Among the countries in the region, Brazil reported the most rooms under construction with 19,508 rooms in 107 hotels. Four other countries each reported more than 1,000 rooms under construction: Colombia (2,699 rooms in 18 hotels); Argentina (1,415 rooms in 11 hotels); Chile (1,143 rooms in nine hotels); and Panama (1,113 rooms in seven hotels).
Caribbean/Mexico hotel pipeline
There are 163 hotels totaling 27,583 rooms Under Contract in the Caribbean/Mexico region. This represents a 6.7% decrease in rooms Under Contract compared with September 2014 and a 17.0% 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 11,766 rooms in 64 hotels under construction for the month. Among the countries in the region, Mexico reported the most rooms under construction with 8,645 rooms in 51 hotels.
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.
