Thursday, February 22, 2024

Hotel pipeline activity boom in Middle East & Africa-report

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[divider style=”solid” top=”25″ bottom=”25″][dropcap]M[/dropcap]iddle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the third quarter, according to September 2022 data from STR.

September 2022 (% changes in comparison with September 2021)

Europe

  • In Construction: 197,884 rooms (-14.1%)
  • Final Planning: 144,277 rooms (-16.1%)
  • Planning: 162,896 rooms (+9.7%)
  • Total Under Contract: 505,057 (-8.3%)

Germany (38,676) and the U.K. (29,471) lead Europe in total rooms in construction.

Asia Pacific

Among countries in the region, China has the most rooms in construction (311,859), followed by Vietnam (28,692).

Middle East & Africa

  • In Construction: 130,956 rooms (-3.2%)
  • Final Planning: 38,147 rooms (-5.9%)
  • Planning: 74,510 rooms (+18.9%)
  • Total Under Contract: 243,613 (+2.2%)

Most of the region’s pipeline activity is focused in the Middle East. Saudi Arabia (39,070) and United Arab Emirates (32,373) lead in construction activity.

Americas

  • In Construction: 207,585 rooms (-9.2%)
  • Final Planning: 203,069 rooms (-17.9%)
  • Planning: 329,789 rooms (+9.4%)
  • Total Under Contract: 740,443 (-4.8%)

The U.S. holds the majority of rooms in construction in the region. After the U.S., Mexico (14,077) and Canada (7,126) have the highest number of rooms in construction in the region.

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