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STR: EMEA, US, Central/South America and Caribbean/Mexico hotel pipeline for April 2016

Posted by admin 18th July 2016 0 Comments 1047 Views

STR’s April 2016 Pipeline Report shows 145,707 rooms in 964 projects Under Contract in Europe. The total represents a 5.5% increase in rooms Under Contract compared with April 2015 and an 8.5% year-over-year increase in rooms In Construction.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The region reported 63,323 rooms in 440 projects In Construction for the month.

Among the region’s key markets, Greater London, England, reported the most rooms In Construction with 5,456 rooms in 33 hotels. Three other markets reported more than 2,000 rooms under construction: Istanbul, Turkey (4,203 rooms in 24 hotels); Moscow, Russia (3,487 rooms in 14 hotels); and Greater Berlin, Germany (2,123 rooms in six hotels).

Middle East and Africa hotel pipeline
STR’s April 2016 Pipeline Report shows 152,580 rooms in 541 hotels Under Contract in the Middle East and 55,078 rooms in 289 hotels Under Contract in Africa. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The Under Contract total in the Middle East subcontinent represents a 41.3% increase in rooms Under Contract compared with April 2015 and a 40.9% year-over-year increase in rooms In Construction. The Middle East reported 80,933 rooms in 251 hotels under construction for the month.

The Under Contract total in the Northern Africa and Southern Africa subcontinents represents a 26.7% increase in rooms Under Contract compared with April 2015 and a 39.6% year-over-year increase in rooms In Construction. Africa reported 29,856 rooms in 155 hotels under construction for the month.

Among the key markets in the Middle East and Africa, Makkah, Saudi Arabia, reported the largest number of rooms In Construction with 20,790 rooms in 11 hotels. Three other markets reported more than 5,000 rooms In Construction: Dubai, United Arab Emirates (20,291 rooms in 65 hotels); Riyadh, Saudi Arabia (6,870 rooms in 31 hotels); and Doha, Qatar (6,100 rooms in 27 hotels).

US hotel pipeline
STR’s April 2016 Pipeline Report shows 506,000 rooms in 4,125 projects Under Contract in the United States. The total represents a 14.6% increase in the number of rooms Under Contract compared with April 2015.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

In the In Construction stage, the U.S. reported 161,014 rooms in 1,241 projects, a 28.3% increase in year-over-year comparisons.

Among the Chain Scale segments, Upscale (55,994 rooms in 407 hotels) accounted for the most rooms In Construction followed by Upper Midscale (52,934 rooms in 523 hotels).

“The Upscale and Upper Midscale segments combine to represent more than 67% of total construction activity in the U.S. with almost 109,000 rooms between the two,” said Bobby Bowers, STR’s senior VP for operations. “Looking further down the road, these two segments combine for almost 207,000 rooms in the two planning phases. That means these segments will likely continue to experience significant supply increases over the next few years. It will be very interesting to monitor the effect on select-service occupancy.”

The Economy segment reported the least contract and construction activity but the largest year-over-year increases in rooms Under Contract (+41.2% to 4,731 rooms) and In Construction (+94.8% to 1,276 rooms).

“The increase in activity is coming across the board,” Bowers said. “Every segment with the exception of Luxury (+7.9%) reported a double-digit increase in construction activity when compared with last April. Every segment outside of Unaffiliated (+2.4%) reported a double-digit lift in Under Contract.”

U.S. pipeline by Chain Scale segment (number of rooms % change April 2016 versus April 2015):

Chain Scale Existing Supply % Change In Construction % Change Under Contract % Change
Luxury 109,017 +2.5% 7,880 +47.2% 12,651 +31.4%
Upper Upscale 582,675 +1.0% 14,965 +7.9% 42,332 +22.0%
Upscale 678,763 +5.8% 55,994 +18.2% 145,049 +10.4%
Upper Midscale 899,537 +2.4% 52,934 +45.0% 170,725 +23.2%
Midscale 473,378 -0.3% 6,316 +25.6% 31,925 +15.4%
Economy 782,568 -0.1% 1,276 +94.8% 4,731 +41.2%
Unaffiliated 1,536,787 -0.3% 21,649 +29.4% 98,587 +2.4%
             
Total 5,062,725 +1.2% 161,014 +28.3% 506,000 +14.6%

Source: STR / data current as of 30 April 2016

 

Central/South America hotel pipeline
STR’s April 2016 Pipeline Report shows 68,354 rooms in 429 projects Under Contract in the Central/South America region. The total represents a 1.7% decrease in rooms Under Contract compared with April 2015 but a 4.4% year-over-year increase in rooms In Construction.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The region reported 31,129 rooms in 187 projects In Construction for the month.

Among the region’s key markets, Rio de Janeiro, Brazil (2,349 rooms in 12 hotels), reported the largest number of rooms In Construction. Two other markets ended the month with more than 1,000 rooms In Construction: Sao Paulo, Brazil (1,162 rooms in five hotels), and Bogotá, Colombia (1,031 rooms in four hotels).

Caribbean/Mexico hotel pipeline
STR’s April 2016 Pipeline Report shows 28,715 rooms in 178 projects Under Contract in the Caribbean/Mexico region. The total represents a 3.8% decrease in rooms Under Contract compared with April 2015 but a 9.3% year-over-year increase in rooms In Construction.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The region reported 12,809 rooms in 79 projects In Construction for the month.

Among the region’s key markets, Central Mexico (3,846 rooms in 30 hotels) reported the largest number of rooms In Construction, followed by Yucatán Peninsula, Mexico (1,795 rooms in eight hotels) and Northwest Mexico (1,441 rooms in 12 hotels).

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