STR reveals Middle East and Africa hotel pipeline for January 2017
Almost 160,000 rooms under contract in ME…
STR’s January 2017 Pipeline Report reveals 159,581 rooms in 556 hotel projects Under Contract in the Middle East and 58,850 rooms in 313 projects Under Contract in Africa.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The Under Contract total in the Middle East represents a 5.1% increase in rooms Under Contract compared with January 2016.
Specifically in the In Construction phase, the Middle East reported 85,827 rooms in 269 hotels.
Based on number of rooms, that is a 6.8% increase in year-over-year comparisons.
The Under Contract total in Africa represents a 5.4% decrease in rooms Under Contract compared with January 2016. Specifically in the In Construction phase, Africa reported 30,213 rooms in 162 hotels. Based on number of rooms, that is a 4.8% increase in year-overyear comparisons. Click here for full story