Development

Middle East Hotel Development Pipeline Under Contract Up 7.2 Percent YOY for December 2016

Among key markets in the Middle East and Africa, Makkah, Saudi Arabia (23,060 rooms in 14 projects), reported the most rooms In Construction. Dubai, United Arab Emirates (20,451 rooms in 69 projects), was the only other market to report more than 10,000 rooms In Construction.

STR’s December 2016 Pipeline Report shows 158,441 rooms in 555 projects Under Contract in the Middle East and 57,626 rooms in 309 projects Under Contract in Africa.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The Under Contract total in the Middle East represents a 7.2% increase in rooms Under Contract compared with December 2015. Specifically in the In Construction phase, the Middle East reported 84,519 rooms in 264 hotels. Based on number of rooms, that is a 4.3% increase in year-over-year comparisons.

The Under Contract total in Africa represents a 5.1% decrease in rooms Under Contract compared with December 2015. Specifically in the In Construction phase, Africa reported 29,546 rooms in 160 hotels. Based on number of rooms, that is a 6.3% increase in year-over-year comparisons.

Among key markets in the Middle East and Africa, Makkah, Saudi Arabia (23,060 rooms in 14 projects), reported the most rooms In Construction. Dubai, United Arab Emirates (20,451 rooms in 69 projects), was the only other market to report more than 10,000 rooms In Construction.

STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.



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