STR’s July 2016 Pipeline Report shows 148,483 rooms in 966 projects Under Contract in Europe. The total represents a 13.0% increase in rooms Under Contract compared with July 2015.
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 63,353 rooms in 424 projects In Construction for the month, which is an 18.4% increase in year-over-year comparisons.
Among the region’s key markets, Greater London, England, reported the most rooms In Construction with 5,400 rooms in 32 hotels. Three other markets reported more than 2,000 rooms In Construction: Istanbul, Turkey (4,192 rooms in 24 hotels); Moscow, Russia (3,632 rooms in 15 hotels); and Greater Berlin, Germany (2,467 rooms in seven hotels).