STR Reports Hotel Pipeline Activity Down Around the World, Except in Middle East & Africa
According to December 2022 data from STR, the Middle East & Africa emerged as the sole region worldwide to experience a growth in overall hotel pipeline activity during the fourth quarter.
Here are the percentage changes in December 2022 compared to December 2021 for different regions:
Middle East & Africa
- In Construction: 122,686 rooms (-5.8%)
- Final Planning: 41,086 rooms (+6.0%)
- Planning: 74,863 rooms (+11.5%)
- Total Under Contract: 238,635 (+1.1%)
Leading the construction activity in this region are Saudi Arabia with 40,742 rooms and the United Arab Emirates with 27,456 rooms.
Europe
- In Construction: 189,698 rooms (-14.5%)
- Final Planning: 140,663 rooms (-14.1%)
- Planning: 153,587 rooms (-3.6%)
- Total Under Contract: 483,948 (-11.2%)
The countries leading in total rooms under construction in Europe are Germany with 36,162 rooms and the U.K. with 28,426 rooms.
Asia Pacific
- In Construction: 476,942 rooms (+0.6%)
- Final Planning: 108,955 rooms (-36.0%)
- Planning: 305,339 rooms (+2.6%)
- Total Under Contract: 891,236 rooms (-5.4%)
China has the highest number of rooms under construction in the region with 300,163 rooms, followed by Vietnam with 31,570 rooms.
Americas
- In Construction: 207,112 (-2.1%)
- Final Planning: 244,982 (+11.3%)
- Planning: 284,829 (-13.6%)
- Total Under Contract: 736,823 (-3.2%)
In the Americas, the United States has the highest number of rooms under construction with 159,344 rooms. Notably, the U.S. exhibited its first year-over-year increase in this phase since late 2020. Following the U.S., Mexico has 11,398 rooms under construction, and Canada has 6,752 rooms.
STR, a provider of premium data benchmarking, analytics, and market insights for the global hospitality sectors, shared this information. Established in 1985, STR operates in 15 countries and has corporate headquarters in Hendersonville, Tennessee, a London-based international headquarters, and an Asia Pacific headquarters in Singapore. In October 2019, STR was acquired by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics, and online marketplaces. These are the latest updates on hotel pipeline activity as reported by STR.
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