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STR Global Report Announces Hundreds of New Europe HotelsJune 21, 2010 By: Jena Tesse Fox
Promising news from Europe's hotel scene: The Europe hotel development pipeline comprises 679 hotels totalling 117,996 rooms, according to the May 2010 STR Global Construction Pipeline Report released this week. The region reported 322 projects in the In Construction phase with 58,617 rooms.
Among the countries of the region, the United Kingdom ended the month with the largest number of rooms in the total active pipeline with 26,878 rooms. Two other countries reported more than 15,000 rooms in the total active pipeline: Germany (16,881 rooms) and Russia (15,900 rooms). The UK also reported the largest number of rooms in the In Construction phase (11,724), followed by Germany (8,722) and Russia (7,119).
Among the key markets, London reported the most rooms in the total active pipeline (8,260 rooms) as well as in the In Construction phase (3,744, rooms). Two other markets ended the month with more than 4,000 rooms in the total active pipeline: Berlin (4,095 rooms) and Moscow (4,028).
Four of the seven Chain Scale segments each accounted for more than 15 percent of rooms in the total active pipeline: the Upscale segment (23.3 percent with 27,467); the Midscale with Food and Beverage segment (16.6 percent with 19,584 rooms); the Upper Upscale segment (16.1 percent with 18,970 rooms); and the Unaffiliated segment (15.5 percent with 18,314 rooms).
172 projects totalling 28,398 rooms are expected to open in the region during 2010.