STR’s March 2017 Pipeline Report shows 162,732 rooms in 1,035 hotel projects Under Contract in Europe. The total represents a 0.7% decrease in rooms Under Contract compared with March 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
Europe reported 73,370 rooms in 461 projects In Construction for the month. Based on number of rooms, that is a 16.2% increase in year-over-year comparisons.
Among Chain Scale segments, the Upper Midscale segment accounted for the largest portion of rooms Under Contract (27.8% with 45,206 rooms) and In Construction (24.0% with 17,625 rooms).
Upscale (23.1% with 16,927 rooms) was the only other segment to represent 20.0% or more of rooms In Construction.