According to STR's March 2014 STR Global Construction Pipeline Report, the Europe hotel development pipeline comprises 925 hotels totaling 149,866 rooms.
Among the countries in the region, the United Kingdom reported the most rooms under construction with 11,087 rooms. Seven other countries reports more than 2,000 rooms under construction: Russia (9,140 rooms); Turkey (6,962 rooms); Germany (6,804 rooms); Poland (2,484 rooms); France (2,445 rooms); Italy (2,392 rooms); and Netherlands (2,140 rooms).
The under contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
Hotel consultant STR is reporting this week that 2015 marked the first year since 2010 in which the European hotel industry passed hotels in the U.S. in year-over-year revenue per available room (RevPAR) growth.
According to Christie + Co., the remarkable resurgence of hotel investment in Spain will continue to be a key story in 2016. This is based on their new report titled 'The Keys to the Spanish Hotel Market Recovery'.