Middle East Reports 14.8% Increase In Hotels Under Construction
STRs September 2016 Pipeline Report has revealed that there are 159,127 rooms in 555 projects under contract in the Middle East and 56,858 rooms in 303 projects under contract in Africa.
The under contract total in the Middle East represents a 14.8% increase in rooms under contract compared with September 2015. Specifically in the in construction phase, the Middle East reported 83,416 rooms in 257 hotels, an 8.5% increase in Y-o-Y comparisons.
The report also indicated that the under contract total in Africa represents an 8.3% increase in rooms under contract compared with September 2015. With Africa reporting 29,006 rooms in 154 hotels currently under construction, representing a 7.8% Y-o-Y increase in comparisons for rooms
Among the countries in the Middle East and Africa, Saudi Arabia reported the most rooms in construction with 36,545 rooms in 78 hotels, closely followed by the UAE with 26,552 rooms in 94 hotels. Two other countries each reported more than 5,000 rooms In Construction: Qatar with 7,889 rooms in 33 hotels and Egypt with 5,800 rooms in 17 hotels.