STR: Middle East and Africa hotel pipeline for September 2017
STR's September 2017 Pipeline Report shows 164,497 rooms in 574 hotel projects Under Contract in the Middle East and 55,349 rooms in 299 projects Under Contract in Africa. Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.The Under Contract total in the Middle East represents a 3.4% increase in rooms Under Contract compared with September 2016.
LONDON -- STR's September 2017 Pipeline Report shows 164,497 rooms in 574 hotel projects Under Contract in the Middle East and 55,349 rooms in 299 projects Under Contract in Africa.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The Under Contract total in the Middle East represents a 3.4% increase in rooms Under Contract compared with September 2016. Specifically in the In Construction phase, the Middle East reported 96,694 rooms in 302 projects. Based on number of rooms, that is a 15.9% increase in year-over-year comparisons.
The Under Contract total in Africa represents a 2.7% decrease in rooms Under Contract compared with September 2016. In the In Construction phase, Africa reported 27,096 rooms in 152 hotels. Based on number of rooms, that is a 6.6% decrease in year-over-year comparisons.
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CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
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