Main Photo: The Radisson Rostock, opening Q3 2022 – imagined
Date: December 2019
Name: The STR Hotel Pipeline Report
No. of Keys: as at October 2019, 1,620 hotels with 205,383 rooms under construction in Europe
Who Said What: According to STR’s latest hotel pipeline report, Europe has a 44.3 percent year-over-year increase in the number of rooms in the final phase of the development pipeline.
A majority of the region’s rooms under construction are in three segments. Of those three, unaffiliated projects (as-yet unbranded) represented the largest percentage increase in activity year over year, up 88.7 percent. The upscale segment, meanwhile, has 40,750 rooms underway, up 30.9 percent, while the upper-midscale segment came in third with 32,945 rooms, up 30.6 percent.
Four countries reported more than 8,000 rooms under construction. Germany led with 51,544 rooms, which represented 7.6 percent of the country’s existing supply, followed by the United Kingdom (40,867 rooms, 6 percent of existing supply). Spain came in third with 26,166 rooms (3.9 percent), followed by France with 8,247 rooms (1.5 percent).
THPT Comment: All booming in Europe…in spite of more than 200,000 rooms coming online in 2020-22, still difficult to find good hotels for sale in Amsterdam, Berlin, Dublin, London, Paris and other key European cities.
First Seen: STR/Hotel Management
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