Global Hotel Construction Pipeline Active in June, Despite Economic Concerns
According to according to the June 2012 STR Global Construction Pipeline Report, despite global economic concerns and the Eurozone debt crisis, many markets are still very active building new hotels.Asia-Pacific Hotel Market
The Asia/Pacific hotel development pipeline comprises 1,625 hotels totaling 374,604 rooms, according to the June 2012 STR Global Construction Pipeline Report.
Among the Chain Scale segments, the Upscale segment reported the largest number of rooms in the total active pipeline with 25.7 percent and 96,274 rooms. Three other segments each accounted for 15 percent of rooms in the total active pipeline or more: the Upper Upscale segment (23.8 percent with 89,325 rooms); the Luxury segment (18.6 percent with 69,812 rooms); and the Unaffiliated segment (15.0 percent with 56,184 rooms).
Three segments each made up more than 20 percent of rooms under construction: the Upper Upscale segment (28.8 percent with 63,180 rooms); the Upscale segment (24.7 percent with 54,307 rooms); and the Luxury segment (20.6 percent with 45,234 rooms).Asia/Pacific pipeline by Chain Scale segment for June 2012 (number of rooms):
The Europe hotel development pipeline comprises 902 hotels totaling 145,093 rooms.
Among the countries in the region, the United Kingdom ended the month with the largest number of rooms under construction with 8,743 rooms. Five other countries reported more than 2,000 rooms in the In Construction phase: Russia (7,453 rooms); Germany (5,169 rooms); Turkey (4,869 rooms); Italy (2,617 rooms); and the Netherlands (2,407 rooms).Middle East & Africa Markets
The Middle East/Africa hotel development pipeline comprises 506 hotels totaling 129,077 rooms.
Among the key markets in the region, Dubai, United Arab Emirates, reported the largest number of rooms in the In Construction phase with 11,307 rooms. Four other markets ended the month with more than 1,000 rooms under construction: Abu Dhabi, United Arab Emirates (5,658 rooms); Riyadh, Saudi Arabia (4,474 rooms); Cairo, Egypt (2,209 rooms); and Amman, Jordan (1,719 rooms).Central & South America Markets
The Central/South America hotel development pipeline comprises 227 hotels totaling 32,242 rooms.
Among the region's countries, Panama reported the largest expected room growth (+38.9 percent) if all 5,592 rooms in its total active pipeline open. Other markets to report a significant expected room growth: Paraguay (+38.2 percent with 796 rooms); Colombia (+19.5 percent with 3,705 rooms); Uruguay (+11.1 percent with 529 rooms); and Nicaragua (+8.4 percent with 330 rooms).Caribbean & Mexico Markets
The Caribbean/Mexico hotel development pipeline comprises 135 hotels totaling 19,749 rooms.
Among the region's countries, Mexico reported the largest number of rooms under construction with 32 properties and 4,304 rooms. Other countries to report a significant number of rooms in the In Construction phase: the Dominican Republic (11 properties with 1,735 rooms); the Bahamas (two properties with 510 rooms); Aruba (one property with 320 rooms); and Puerto Rico (two properties with 265 rooms).