There are 820 hotels totalling 133,251 rooms Under Contract in Europe, according to the May 2015 STR Global Construction Pipeline Report. This represents a 10.7-percent decrease in rooms Under Contract compared with May 2014 and a 7.9-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 56,299 rooms in 351 hotels under construction for the month.
Among the Chain Scale segments, the Upscale segment accounted for the largest portion of rooms in Under Contract (26.0 percent with 34,660 rooms). Two other segments each accounted for more than 15.0 percent of rooms in Under Contract: the Upper Midscale segment (22.7 percent with 30,279 rooms) and the Unaffiliated segment (15.3 percent with 20,337 rooms).
The Upscale segment also made up the largest portion of rooms under construction (32.7 percent with 18,404 rooms) followed by the Upper Midscale segment (18.3 p