Hotel room construction up 9.4% this year
The number reflects a like-for-like comparison with April 2014, but shows a huge 21.6% increase in year-over-year room construction.
STR Global has released their Global Construction Pipeline Report, which shows a 9.4% increase in hotel rooms in construction, final planning and planning stages.
The number reflects a like-for-like comparison with April 2014, but shows a whopping 21.6% increase in year-over-year room construction.
The total number of rooms being built is 150,762 in a total of 654 hotels this year, and 78,824 rooms in 332 hotels for April alone.
The Upper Upscale segment made up the largest portion of rooms under construction -- 38.0 percent with 29,915 rooms. Two other segments each accounted for more than 20.0 percent of rooms in construction: Luxury -- 21.1 percent with 16,642 rooms and Upscale -- 20.3 percent with 15,985 rooms.
As we reported today, the entire private sector in Dubai is also showing a slump, with business activity down below 2013 levels and travel and tourism the hardest hit sectors.