Middle East Hotel Development Pipeline In Construction Phase Up 17.4 Percent YOY for August 2017
STR’s August 2017 Pipeline Report shows 164,898 rooms in 583 hotel projects Under Contract in the Middle East and 57,011 rooms in 308 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 5.4% increase in rooms Under Contract compared with August 2016. Specifically in the In Construction phase, the Middle East reported 98,027 rooms in 309 hotels. Based on number of rooms, that is a 17.2% increase in year-over-year comparisons.
The Under Contract total in Africa represents a 0.3% increase in rooms Under Contract compared with August 2016. Specifically in the In Construction phase, Africa reported 28,260 rooms in 160 hotels. Based on number of rooms, that is a 5.6% decrease in year-over-year comparisons.
Five countries in the Middle East/Africa region reported more than 4,000 rooms In Construction:
- Saudi Arabia (40,020 rooms in 89 projects)
- United Arab Emirates (35,050 rooms in 121 projects)
- Qatar (9,627 rooms in 41 projects)
- Angola (4,451 rooms in 32 projects)
- Egypt (4,169 rooms in 12 projects)
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