Only One World Region Showed Increase In Overall Hotel Pipeline Activity At End Of Q4, Notes STR
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According to a statement published on the website of hotel industry market data company STR, the Middle East and Africa was the only world region that showed an increase in overall in hotel pipeline activity at the end of the fourth quarter, according to December 2022 data.
Europe
According to the statement published on STR.com, in December of last year – percentage changes are in comparison to December 2021 – there were 189,698 rooms in construction in Europe (-14.5%), with 140,663 rooms in final planning (-14.1%) , 153,587 rooms in planning (-3.6%) and 483,948 rooms in total under contract (-11.2%). Germany (36,162) and the UK (28,426) lead Europe in total rooms in construction.
Asia-Pacific
According to the statement published on STR.com, in December of last year there were 476,942 rooms in construction in the Asia-Pacific region (+0.6%), with 108,955 rooms in final planning (-36.0%), 305,339 rooms in planning ( +2.6%) and 891,236 rooms in total under contract (-5.4%). Among the countries in the region, China has the most rooms in construction (300,163), followed by Vietnam (31,570).
Middle East And Africa
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According to the statement published on STR.com, in December of last year there were 122,686 rooms in construction in the Middle East and Africa (-5.8%), with 41,086 rooms in final planning (+6.0%), 74,863 rooms in planning ( +11.5%) and 238,635 rooms in total under contract (+1.1%), with Saudi Arabia (40,742) and the United Arab Emirates (27,456) leading in construction activity.
Americas
According to the statement published on STR.com, in December of last year there were 207,112 rooms in construction in the Americas (-2.1%), with 244,982 rooms in final planning (+11.3%), 284,829 rooms (-13.6%) in planning and 736,823 rooms in total under contract (-3.2%). The US holds the majority of rooms in construction in the region (159,344), increasing for the first time since late 2020, with Mexico (11,398) and Canada (6,752) having The second- and third-highest numbers of rooms in construction in the region, after the US.
Read more: Baird/STR Hotel Stock Index Decreased In December, Notes STR
© 2023 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.
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