LONDON—The Europe hotel development pipeline comprises 747 hotels totalling 124,234 rooms, according to the January STR Global Construction Pipeline Report released this week.
“Among the key markets in the region, Stockholm and Istanbul have the highest share of rooms under construction compared to their total pipeline”, said Elizabeth Randall, managing director of STR Global. “The main activity in Stockholm is around Arlanda Airport. Istanbul, whose existing supply of branded hotels mainly fall in the upmarket segments, is looking to diversity its hotel offerings with the construction of midmarket and budget brands”.
Among the key markets in the region, London, United Kingdom, reported the largest number of room in the In Construction phase with 6,014 rooms. Other markets to report a significant number of rooms in the In Construction phase include: Istanbul, Turkey (2,614 rooms); Vienna, Austria (1,889); Stockholm, Sweden (1,711 rooms); and Moscow, Russia (1,605 rooms).
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STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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