Europe has the largest Pipeline in EMEA with 971 projects/161,236 rooms at the end of Q4 2008. The Middle East's Total Pipeline has 503 projects/147,488 rooms. Africa's totals 171 projects/35,267 rooms. As in other parts of the world, the Pipelines in these regions are heavily weighted for the near-term. 50% of Europe's projects and 53% of projects in both the Middle East and Africa are already Under Construction. This is due to the rush by developers during Q4 2007 and Q1 2008 and through the fall in the Middle East to get projects in the ground before the availability of lending was further reduced.

Europe has the largest Pipeline in EMEA with 971 projects/161,236 rooms at the end of Q4 2008. The Middle East's Total Pipeline has 503 projects/147,488 rooms. Africa's totals 171 projects/35,267 rooms. As in other parts of the world, the Pipelines in these regions are heavily weighted for the near-term. 50% of Europe's projects and 53% of projects in both the Middle East and Africa are already Under Construction. This is due to the rush by developers during Q4 2007 and Q1 2008 and through the fall in the Middle East to get projects in the ground before the availability of lending was further reduced.

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