STR’s May 2017 Pipeline Report shows 167,543 rooms in 1,074 hotel projects Under Contract in Europe. The total represents a 15.3% increase in rooms Under Contract compared with May 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
Europe reported 77,360 rooms in 487 projects In Construction for the month. Based on number of rooms, that is a 21.3% increase in year-over-year comparisons.
Four European countries reported more than 5,000 rooms In Construction:
- United Kingdom (15,119 rooms in 114 projects)
- Germany (13,415 rooms in 66 projects)
- Turkey (8,280 rooms in 51 projects)
- Russia (8,061 rooms in 42 projects)
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