STR’s April 2016 Pipeline Report shows 145,707 rooms in 964 projects Under Contract in Europe. The total represents a 5.5% increase in rooms Under Contract compared with April 2015 and an 8.5% year-over-year increase in rooms In 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 region reported 63,323 rooms in 440 projects In Construction for the month.
Among the region’s key markets, Greater London, England, reported the most rooms In Construction with 5,456 rooms in 33 hotels. Three other markets reported more than 2,000 rooms under construction: Istanbul, Turkey (4,203 rooms in 24 hotels); Moscow, Russia (3,487 rooms in 14 hotels); and Greater Berlin, Germany (2,123 rooms in six hotels).