Main Photo: The Andaz Hotel Vienna Am Belverdere – opened May 2019
Date: May 2019
Name: The STR Report
Who and What: 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 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 in construction are in three segments. Of those three, unaffiliated projects represented the largest percentage increase (up 119.9 percent) in activity year over year.
1. Unaffiliated: 57,274 rooms (+119.9 percent)
2. Upscale: 40,477 rooms (+34 percent)
3. Upper-midscale: 31,127 rooms (+16.1 percent)
Five countries reported more than 7,000 rooms under construction: Germany led with 49,901 rooms, which represented 7.6 percent of the country’s existing supply, followed by the United Kingdom (42,278 rooms, 6.3 percent of existing supply). Spain came next with 12,158 rooms (2 percent), followed by France with 8,715 rooms (1.6 percent) and Turkey with 7,246 rooms (2.5 percent).
THPT Comment: Good to see the pipeline looking so healthy…let’s just hope occupancy can stay so strong with these new hotels!
First Seen: Hotel Management
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