589 hotels 'under contract' in ME/Africa
London, June 15, 2014
The Middle East/Africa hotel region reported 589 hotels Under Contract totalling 137,784 rooms, according to the May 2014 STR Global Construction Pipeline Report.
The Under Contract data includes projects in the in-construction, final planning and planning stages but does not include projects in the unconfirmed stage.
Among the chain scale segments, the upper upscale segment accounted for the largest portion of rooms Under Contract with 35.8 percent and 49,260 rooms.
Three other segments each accounted for more than 10 percent of rooms Under Contract: the Upscale segment (19.0 percent with 26,117 rooms); the Luxury segment (18.2 percent with 25,044 rooms); and the Unaffiliated segment (14.0 percent with 19,327 rooms), it said.
The Upper Upscale segment also made up the largest portion of rooms under construction (36.2 percent) with 23,570 rooms. The Luxury segment (20.8 percent with 13,567 rooms) and the Upscale segment (20.2 percent with 13,174 rooms) each made up a significant portion of rooms under construction in the region, the report said. - TradeArabia News Service