Europe reported a 48.6% year-over-year increase in the number of hotel rooms in construction through April, according to pipeline data from STR.
STR’s pipeline data for Europe showed 1,454 hotel projects accounting for 187,198 rooms in construction as of April 2019. This represented a 48.6% year-over-year increase in the number of rooms in the final phase of the development pipeline.
A majority of the region’s rooms in construction are in three segments. Of those three, unaffiliated projects represented the largest percentage increase (+119.9%) in activity year over year.
1. Unaffiliated: 57,274 rooms (+119.9%)
2. Upscale: 40,477 rooms (+34.0%)
3. Upper Midscale: 31,127 rooms (+16.1%)
Five countries reported more than 7,000 rooms under construction. Germany led with 49,901 rooms, which represented 7.6% of the country’s existing supply, followed by the United Kingdom (42,278 rooms, 6.3% of existing supply).
1. Germany: 49,901 rooms (7.6%)
2. United Kingdom: 42,278 rooms (6.3%)
3. Spain: 12,158 rooms (2.0%)
4. France: 8,715 rooms (1.6%)
5. Turkey: 7,246 rooms (2.5%)
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.