London – 13 July 2017 –
STR’s June 2017 Pipeline Report shows 169,046 rooms in 1,100 hotel projects under contract in Europe. The total represents a 17.5% increase in rooms under contract compared with June 2016.
Under contract data includes projects in the in Construction, final planning and planning stages but does not include projects in the unconfirmed stage.
Europe reported 77,263 rooms in 495 projects in construction for the month. Based on number of rooms, that is a 24.0% increase in year-over-year comparisons.
Among chain scale segments, the upper midscale segment accounted for the largest portion of rooms under contract (27.5% with 46,516 rooms). The upscale segment represented the largest portion of rooms in construction (25.3% with 19,570 rooms).
Europe pipeline by chain scale segment (number of rooms % change, June 2017 vs. June 2016):
|
Chain Scale |
In Construction |
% Change |
Under Contract |
% Change |
|
Luxury |
5,347 |
+55.0% |
8,740 |
+30.9% |
|
Upper Upscale |
15,524 |
+33.5% |
26,839 |
+15.2% |
|
Upscale |
19,570 |
+30.8% |
36,482 |
+24.3% |
|
Upper Midscale |
16,954 |
+19.5% |
46,516 |
+13.0% |
|
Midscale |
3,291 |
-15.3% |
9,361 |
+20.5% |
|
Economy |
9,647 |
-5.1% |
16,911 |
-1.0% |
|
Unaffiliated |
6,930 |
+72.8% |
24,197 |
+30.8% |
|
|
|
|
|
|
|
Total |
77,263 |
+24.0% |
169,046 |
+17.5% |
Source: STR / report as of June 2017, activity reported through May 2016