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STR: Europe hotel pipeline for March 2017

April 15, 2017 Hotel Trends No Comments Email Email

STR’s March 2017 Pipeline Report shows 162,732 rooms in 1,035 hotel projects Under Contract in Europe. The total represents a 0.7% decrease in rooms Under Contract compared with March 2016. http://www.rembrandtbkk.com/

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 73,370 rooms in 461 projects In Construction for the month. Based on number of rooms, that is a 16.2% increase in year-over-year comparisons.

Among Chain Scale segments, the Upper Midscale segment accounted for the largest portion of rooms Under Contract (27.8% with 45,206 rooms) and In Construction (24.0% with 17,625 rooms).

Upscale (23.1% with 16,927 rooms) was the only other segment to represent 20.0% or more of rooms In Construction.

Europe pipeline by Chain Scale (number of rooms):

Chain Scale Existing Supply In Construction Under Contract
Luxury 77,000 5,087 7,860
Upper Upscale 269,838 13,320 24,756
Upscale 538,039 16,927 35,821
Upper Midscale 416,054 17,625 45,206
Midscale 298,187 4,505 8,932
Economy 263,458 9,428 16,701
Unaffiliated 2,827,255 6,478 23,456
Total 4,689,831 73,370 162,732

Source: STR / report as of March 2017, activity reported through February 2017
Under Contract data includes those projects in the In Construction, Final Planning and Planning stages

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