Middle East hotel construction pipeline on an upward curve
The continues construction growth has resulted in 875 projects so far
The construction pipeline in the Middle East and Africa is continuing to grow, according to a report by analysts at Lodging Econometrics.
The continued growth has resulted in 875 Projects or 216,045 rooms combined, according to the recent Trend Report.
The total Middle East Pipeline has 594 Projects or 170,490 Rooms and is up 23% by rooms year-over-year (YOY). This is the 16th consecutive quarter of pipeline growth seen by the Middle East, the report noted.
In the Middle East, there are 358 Projects/113,830 Rooms under Construction, up 13% by projects YOY. Those scheduled to start construction in the next 12 months are at 127 Projects/31,752 Rooms, up 9%, while projects in Early Planning stand at 109 Projects/24,908 Rooms are up 31%.
The total Africa pipeline has 281 projects/45,555 rooms and is up 21% by projects YOY. In Africa, there are 127 projects/21,233 rooms under construction, up only 1% by projects YOY. Those scheduled to start construction in the next 12 months are at 79 projects/11,954 rooms, up a whopping 65%, while projects in early planning stand at 75 projects/12,368 rooms are up 29%.