STR’s October 2017 Pipeline Report shows 274,743 rooms in 3,035 hotel projects Under Contract in Europe. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
As part of STR’s acquisition of AM:PM, STR’s U.K. and Ireland databases now include a number of properties that were not previously included, such as Independent hotels with fewer than 10 rooms. This resulted in a significant increase in the number of projects in the pipeline, and subsequently, year-over-year comparisons. 
Europe reported 96,517 rooms in 770 projects In Construction for the month. Five key European markets reported more than 3,000 rooms In Construction:
- London, England (7,520 rooms in 78 projects)
- Munich, Germany (3,982 rooms in 19 projects)
- Istanbul, Turkey (3,867 rooms in 20 projects)
- Moscow, Russia (3,618 rooms in 16 projects)
- Dublin, Ireland (3,152 rooms in 31 projects)
Middle East and Africa hotel pipelines
STR’s October 2017 Pipeline Report shows 166,774 rooms in 580 hotel projects Under Contract in the Middle East and 55,094 rooms in 299 projects Under Contract in Africa.
STR’s October 2017 Pipeline Report shows 166,774 rooms in 580 hotel projects Under Contract in the Middle East and 55,094 rooms in 299 projects 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 represents a 5.1% increase in rooms Under Contract compared with October 2016. Specifically in the In Construction phase, the Middle East reported 99,790 rooms in 314 projects. Based on number of rooms, that is an 18.1% increase in year-over-year comparisons.
The Under Contract total in Africa represents a 4.6% decrease in rooms Under Contract compared with October 2016. In the In Construction phase, Africa reported 26,599 rooms in 149 projects. Based on number of rooms, that is an 11.4% decrease in year-over-year comparisons.
Five key markets in the Middle East and Africa region reported more than 4,000 rooms In Construction:
- Dubai, United Arab Emirates (29,226 rooms in 95 projects)
- Makkah, Saudi Arabia (23,791 rooms in 18 projects)
- Doha, Qatar (8,878 rooms in 38 projects)
- Riyadh, Saudi Arabia (6,349 rooms in 29 projects)
- Abu Dhabi, United Arab Emirates (4,124 rooms in 12 projects)
U.S. hotel pipeline
STR’s October 2017 Pipeline Report shows 584,052 rooms in 4,869 hotel projects Under Contract in the United States. The total represents a 5.4% increase in the number of rooms Under Contract compared with October 2016.
STR’s October 2017 Pipeline Report shows 584,052 rooms in 4,869 hotel projects Under Contract in the United States. The total represents a 5.4% increase in the number of rooms Under Contract compared with October 2016.
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 183,187 rooms in 1,407 projects. Based on the number of rooms, that is a 0.1% decrease in year-over-year comparisons.
“This is the first time there has been a year-over-year decrease in U.S. hotel construction since October 2011,” said Bobby Bowers, STR’s senior VP for operations. “The construction total also fell 2.8% from the previous month, and with the Final Planning and Planning stages not moving up significantly, we can expect to see slowing in pipeline numbers in the coming months.”
Among the Top 26 Markets, New York, New York, reported the most rooms Under Contract (24,858 rooms) and most rooms In Construction (12,702 rooms).
Three additional markets each reported more than 15,000 rooms Under Contract for the month: Dallas, Texas (18,712 rooms); Orlando, Florida (16,210 rooms); and Houston, Texas (15,979 rooms).
After New York, three other markets reported more than 5,000 rooms In Construction: Dallas (6,685 rooms); Nashville, Tennessee (5,472 rooms); and Las Vegas, Nevada (5,125 rooms).
“In September, ADR decreased in the Top 25 Markets for the first time since the recovery period began,”Bowers said. “New supply continues to pressure occupancy levels and rates in these markets.”
Norfolk/Virginia Beach, Virginia, was the only market to report less than 1,000 rooms In Construction with 302 rooms.
