There are 857 hotels totalling 138,152 rooms Under Contract in Europe, according to the April 2015 STR Global Construction Pipeline Report. This represents a 6.4-percent decrease in rooms Under Contract compared with April 2014 and a 3.6-percent year-over-year decrease in rooms under construction. The 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 58,372 rooms in 360 hotels under construction for the month.
Among the region’s key markets, Istanbul, Turkey, reported the most rooms under construction with 4,902 rooms in 24 hotels. Three other markets reported more than 3,000 rooms under construction: Greater London, England (4,440 rooms in 26 hotels); Moscow, Russia (3,103 rooms in 13 hotels); and Greater Amsterdam, Netherlands (3,026 rooms in 11 hotels).