Hotel construction pipeline expands in Middle East
633 hotels totalling 147,953 rooms under contract across MEA according to STR Global
A total of 633 hotels totalling 147,953 rooms are currently under contract in the Middle East, according to the latest data from STR Global.
The data reports that seven more hotels are currently under contract in comparison to the December pipeline released last month, which showed that 626 hotels were under contract.
The organisation’s Construction Pipeline Report for December accounts for projects in the in construction, final planning and planning stages, but does not include projects in the unconfirmed stage.
The upper upscale segment accounted for the largest portion of rooms under contract (36%) with 53,257 rooms.
Two other segments each accounted for more than 15% of rooms under contract: the upscale segment (20.8% with 30,703 rooms) and the luxury segment (18.8% with 27,820 rooms).
The upper upscale segment also made up the largest portion of rooms under construction (40.3% with 29,770 rooms, followed by the luxury segment (22.2% with 16,448 rooms) and the upscale segment (19.9% with 14,699 rooms).
STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information.