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STR: Europe hotel construction up 48.6% in April

REPORTS

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% 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 (+119.9%) in activity year over year.

1.    Unaffiliated: 57,274 rooms (+119.9%)
2.    Upscale: 40,477 rooms (+34.0%)
3.    Upper Midscale: 31,127 rooms (+16.1%)

Five countries reported more than 7,000 rooms under construction. Germany led with 49,901 rooms, which represented 7.6% of the country’s existing supply, followed by the United Kingdom (42,278 rooms, 6.3% of existing supply).

1.    Germany: 49,901 rooms (7.6%)
2.    United Kingdom: 42,278 rooms (6.3%)
3.    Spain: 12,158 rooms (2.0%)
4.    France: 8,715 rooms (1.6%)
5.    Turkey: 7,246 rooms (2.5%)

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