MidEast, Africa hotel pipeline nears 150k rooms
STR Global shows 147,754 hotel rooms are under contract in region
A total of 630 hotels, with a combined 147,754 rooms, are under contract in the Middle East/Africa region, according to data from STR Global.
Its Construction Pipeline Report for July includes projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.
The upper upscale segment dominates this pipeline, making up 36.4% of the projects, with 53,794 rooms.
That is followed by the upscale segment (18.6% with 27,431 rooms), the luxury segment (18.5 percent with 27,264 rooms) and the unaffiliated segment (13.9 percent with 20,577 rooms).
In terms of the hotels already under construction, 37.3 percent (25,337 rooms) are in the upper upscale segment, 21.4 percent (14,559 rooms) are in the luxury segment and 19.8 percent (13,485 rooms) are in the upscale segment.
STR Global’s data for June had suggested there were 614 hotels under contract, totalling 143,870 rooms.