Middle East, Africa tourism boosted by hotel development
The Middle Eastern and African region may soon reap the benefits of hotel development and an expanded tourism sector, as STRs June 2017 Pipeline Report shows 160,120 rooms in 583 hotel projects under contract across the Middle East and 56,289 rooms in 310 under contract in Africa.
Under contract, data refers to projects in the various stages of development, including in construction, final planning and planning. However, the comprehensive report omits projects in the unconfirmed stage.
The Middle East and Africa clearly have flourishing tourism sectors that still have room to grow, evidenced by an analysis of the Pipeline report shows us that there is a 3.6% increase in rooms under contract than in June 2016. Specifically, in the in construction phase, the Middle East reported 94,748 rooms in 300 projects. Based on the number of rooms, that is a 15.6% increase in year-over-year comparisons.
On the other hand, Africa appears to have experienced lesser growth, as the report says: There was a 1% increase in rooms when compared with June 2016. In the in construction phase, Africa reported 28,700 rooms in 165 hotels. Based on the number of rooms, that is a 6.5% decrease in year-over-year comparisons.
