There are 160,120 rooms in 583 hotel projects under contract in the Middle East, according to STR’s June 2017 Pipeline Report. This is a 3.6 per cent increase 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, said STR, a leading market research agency.
Specifically, in the in-construction phase, the Middle East reported 94,748 rooms in 300 projects. Based on number of rooms, that is a 15.6 per cent increase in year-over-year comparisons.
Meanwhile, the report said there are 56,289 rooms in 310 projects under contract in Africa.
The under contract total in Africa represents a 1 per cent increase compared with June 2016. In the in-construction phase, Africa reported 28,700 rooms in 165 hotels, a 6.5 per cent decrease in year-over-year comparisons. - TradeArabia News Service
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