There are 654 hotels totalling 150,762 rooms Under Contract in the Middle East/Africa region, according to the April 2015 STR Global Construction Pipeline Report. This represents a 9.4-percent increase in rooms Under Contract compared with April 2014 and a 21.6-percent 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 78,824 rooms in 332 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, 34.6 percent with 52,234 rooms. Two other segments each accounted for more than 15.0 percent of rooms Under Contract: Upscale (21.8 percent with 32,877 rooms) and Luxury (18.8 percent with 28,300 rooms).
The Upper Upscale segment made up the largest portion of rooms under construction, 38.0 percent with 29,915 rooms. Two other segments each accounted for more than 20.0 percent of rooms In Construction: Luxury (21.1 percent with 16,642 rooms) and Upscale (20.3 percent with 15,985 rooms).
About STR Global
STR Global provides clients - including hotel operators, developers, financiers, analysts and suppliers to the hotel industry - access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.
Logos, product and company names mentioned are the property of their respective owners.