STR’s March 2016 Pipeline Report shows 163,943 rooms in 1,131 projects Under Contract in Europe. The total represents a 17.9% increase in rooms Under Contract compared with March 2015 and a 6.7% 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 63,150 rooms in 448 projects In Construction for the month.
Among Chain Scale segments, the Upper Midscale segment accounted for the largest portion of rooms Under Contract (23.7% with 38,806 rooms) and In Construction (22.0% with 13,893 rooms).
Two other segments each accounted for more than 15.0% of rooms Under Contract: Upscale (19.5% with 32,050 rooms) and Economy (16.8% with 27,614 rooms).
In addition to Upper Midscale, three segments accounted for more than 15.0% of rooms In Construction: Upscale (21.6% with 13,636 rooms), Upper Upscale (17.9% with 11,288 rooms) and Economy (17.7% to 11,155 rooms).
Europe pipeline by Chain Scale for March 2016 (number of rooms)
|Chain Scale||Existing Supply||In Construction||Under Contract|
Source: STR/data current as of 31 March 2016
Under Contract includes those projects in the In Construction, Final Planning and Planning stages