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STR Reports Global Hotel Construction Pipeline for October

STR Reports Global Hotel Construction Pipeline for October

Vacation News » Vacation & Leisure Real Estate Edition | By David Barley | November 21, 2011 10:01 AM ET



Thumbnail image for new-hotel-construction-keyimage.jpg This week STR Global released their monthly Construction Pipeline Report for October 2011 for the following markets:

Europe

Based on the October 2011 STR Global Construction Pipeline Report, Europe hotel development pipeline comprises 841 hotels totaling 134,437 rooms.

Year-to-date 2011, 207 properties have opened in the region with 30,579 rooms. In the remainder of 2011, 72 more properties are expected to open with 10,494 rooms. The majority of the new rooms will be in the upscale segment (15 properties with 2,521 rooms) and the Economy segment (17 properties with 2,327 rooms).

In 2012, the region is expecting 298 properties to open with 49,047 rooms. The most rooms are planned to open in the Upscale segment (71 properties with 12,489 rooms), the Upper Midscale segment (61 properties with 10,040 rooms), and the Unaffiliated segment (59 properties with 8,922 rooms).

Middle East/Africa

The Middle East/Africa hotel development pipeline comprises 471 hotels totaling 128,969 rooms.

Among the Chain Scale segments, the Upper Upscale segment accounted for the largest portion of rooms in the total active pipeline with 31.3 percent and 40,411 rooms. Two other segments each accounted for 20 percent or more of rooms in the total active pipeline: the Luxury segment (20.3 percent with 26,132 rooms) and the Unaffiliated segment (20.2 percent with 25,999 rooms).

Three segments each made up more than 20 percent of rooms under construction in the region: the Upper Upscale segment (28.7 percent with 19,794 rooms); the Luxury segment (26.6 percent with 18,380 rooms); and the Upscale segment (22.9 percent with 15,807 rooms).

Middle East/Africa pipeline by Chain Scale segment for October 2011 (number of rooms):

Middle-East-Africa-pipeline-by-Chain-Scale-segment-for-October-2011-number-of-rooms.jpg

Asia/Pacific

The Asia/Pacific hotel development pipeline comprises 1,373 hotels totaling 327,630 rooms.
Among the region's markets, New Delhi, India, ended the month with the largest expected growth (+46.3 percent) if all 10,477 rooms in the total active pipeline open. Other markets to report a significant growth in existing supply: Manila, Philippines (+30.0 percent with 5,523 rooms); Mumbai, India (+22.5 percent with 4,185 rooms); Bali, Indonesia (+19.3 percent with 6,257 rooms); and Jakarta, Indonesia (+17.3 percent with 4,541 rooms).


Caribbean/Mexico

The Caribbean/Mexico hotel development pipeline comprises 134 hotels totaling 19,139 rooms.

Among the region's countries, Mexico reported the largest number of rooms under construction with 6,604 rooms. Other countries to report a significant number of rooms under construction: the Dominican Republic (1,584 rooms); the Bahamas (1,233 rooms); Aruba (320 rooms); and Puerto Rico (265 rooms).

Central/South America

The Central/South America hotel development pipeline comprises 198 hotels totaling 28,905 rooms.

Among the markets in the region, Panama City, Panama reported the largest number of rooms under construction with 4,118 rooms. Three other markets reported more a significant number rooms under construction: Bogota, Colombia (452 rooms); San Jose, Costa Rica (395 rooms); and Lima, Peru (231 rooms).




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