There are 812 hotels totalling 133,317 rooms Under Contract in Europe, according to the October 2015 STR Global Construction Pipeline Report. This represents a 6.6% decrease in rooms Under Contract compared with October 2014 but a 0.3% year-over-year increase 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 54,912 rooms in 336 hotels under construction for the month.
Among the region’s key markets, Istanbul, Turkey, reported the most rooms under construction with 4,760 rooms in 23 hotels. Three other markets reported more than 2,000 rooms under construction: Greater London, England (3,835 rooms in 22 hotels); Moscow, Russia (3,591 rooms in 15 hotels); and Greater Amsterdam, Netherlands (2,343 rooms in 10 hotels).