Source: STR

LONDON -- STR's October 2017 Pipeline Report shows 166,774 rooms in 580 hotel projects Under Contract in the Middle East and 55,094 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 5.1% increase in rooms Under Contract compared with October 2016. Specifically in the In Construction phase, the Middle East reported 99,790 rooms in 314 projects. Based on number of rooms, that is an 18.1% increase in year-over-year comparisons.

The Under Contract total in Africa represents a 4.6% decrease in rooms Under Contract compared with October 2016. In the In Construction phase, Africa reported 26,599 rooms in 149 projects. Based on number of rooms, that is an 11.4% decrease in year-over-year comparisons.

Five key markets in the Middle East and Africa region reported more than 4,000 rooms In Construction:

  • Dubai, United Arab Emirates (29,226 rooms in 95 projects)
  • Makkah, Saudi Arabia (23,791 rooms in 18 projects)
  • Doha, Qatar (8,878 rooms in 38 projects)
  • Riyadh, Saudi Arabia (6,349 rooms in 29 projects)
  • Abu Dhabi, United Arab Emirates (4,124 rooms in 12 projects)

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Alex Anstett
Media & Communications Coordinator - STR
STR