STR’s February 2017 Pipeline Report shows 161,656 rooms in 1,027 hotel projects Under Contract in Europe. The total represents a 1.3% decrease in rooms Under Contract compared with February 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
Europe reported 72,888 rooms in 453 projects In Construction for the month. Based on number of rooms, that is a 15.9% increase in year-over-year comparisons.
Four European countries reported more than 5,000 rooms In Construction:
- United Kingdom (16,648 rooms in 122 projects)
- Germany (12,585 rooms in 61 projects)
- Turkey (8,270 rooms in 51 projects)
- Russia (7,906 rooms in 41 projects)