Five European countries reported more than 3,000 hotel rooms in construction
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
As part of STR’s acquisition of AM:PM, STR’s U.K. and Ireland databases now include a number of properties that were not previously included, such as Independent hotels with fewer than 10 rooms.
This resulted in a significant increase in the number of projects in the pipeline, and subsequently, year-over-year comparisons.
Europe reported 96,517 rooms in 770 projects In Construction for the month. Five key European markets reported more than 3,000 rooms In Construction:
- London, England (7,520 rooms in 78 projects)
- Munich, Germany (3,982 rooms in 19 projects)
- Istanbul, Turkey (3,867 rooms in 20 projects)
- Moscow, Russia (3,618 rooms in 16 projects)
- Dublin, Ireland (3,152 rooms in 31 projects). ■