STR Releases Hotel Development Pipeline for the Middle East And Africa for October 2017
STR’s October 2017 Pipeline Report shows 166,774 rooms in 580 hotel projects Under Contract in the Middle East and 55,094 rooms in 299 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 5.1% increase in rooms Under Contract compared with October 2016. Specifically in the In Construction phase, the Middle East reported 99,790 rooms in 314 projects. Based on number of rooms, that is an 18.1% increase in year-over-year comparisons.
The Under Contract total in Africa represents a 4.6% decrease in rooms Under Contract compared with October 2016. In the In Construction phase, Africa reported 26,599 rooms in 149 projects. Based on number of rooms, that is an 11.4% decrease in year-over-year comparisons.
Five key markets in the Middle East and Africa region reported more than 4,000 rooms In Construction:
- Dubai, United Arab Emirates (29,226 rooms in 95 projects)
- Makkah, Saudi Arabia (23,791 rooms in 18 projects)
- Doha, Qatar (8,878 rooms in 38 projects)
- Riyadh, Saudi Arabia (6,349 rooms in 29 projects)
- Abu Dhabi, United Arab Emirates (4,124 rooms in 12 projects)
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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