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Hotel Development in Europe Slows Down

News European hotel pipeline for May 2015 is significantly smaller than a year ago. The decrease estimates 10% as it is published by STR Global in its latest Global Construction Pipeline Report. In total, there are 820 hotels with 133,251 guestrooms in Europe under contract at the moment. This is 10% less than the total number of rooms under contract in May 2014. If counted year-over-year, the decline estimates 7.9%. The status “Under Contract” includes all hotels at the stage of planning, final planning and construction. Hotels with yet unconfirmed status are not included in the statistics.

If taken only under construction status, the region has 351 hotels with the total of 56,299 guestrooms in pipeline. If analyzed by segments, the upscale segment has the largest presence among all segments. Currently, as many as 26% of all hotels or 34,660 guestrooms under contract belong to this segment. The upscale segment is followed by the upper midscale segment (22.7% or 30,279 guestrooms in total) and the unaffiliated segment (15.3% or 20,337 guestrooms in total). The situation regarding hotels under construction is similar. The upscale segment has the largest presence here as well – 32.7% with the total of 18,404 guestrooms.

18.06.2015

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