Middle East/Africa hotel pipeline grows in October
STR Global report shows nine more hotels under contract across region
The Middle East/Africa hotel region has reported 646 hotels under contract totalling 151,579 rooms, according to the October 2014 STR Global Construction Pipeline Report.
The report shows an increase of nine hotels from the September Global Construction Pipeline Report, which reported that 637 hotels were under contract, totalling 151,205 rooms.
The under contract data includes projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.
Among the chain scale segments, the upper upscale segment accounted for the largest portion of rooms under contract (36.4%) in the region with 55,172 rooms.
Three other segments each accounted for more than 10% of rooms under contract: the luxury segment (18.9% with 28,628 rooms); the upscale segment (18.4% with 27,833 rooms); and the unaffiliated segment (14.1% with 21,327 rooms).
The upper upscale segment accounted for the largest portion of rooms In construction (37.4%) with 27,503 rooms, followed by the luxury segment (21.7% with 15,952 rooms) and the upscale segment (19.6 percent with 14,429 rooms).