STR: Middle East, Africa hotel construction remains steady
STR's July 2019 hotel pipeline data showed 427 projects accounting for 123,742 rooms in construction in the Middle East and 138 projects and 25,986 rooms in construction in Africa.
The Middle East total represented a 2.1% year-over-year increase in the number of rooms in the final phase of the development pipeline. The region reported an additional 30,240 rooms in the final planning stage and 45,948 rooms in planning.
The Africa room construction total was down 1.8% year over year. Africa also showed 17,485 rooms in final planning and 23,954 rooms in planning.
Between the Middle East and Africa, four countries showed more than 4,000 rooms under construction. The United Arab Emirates led with 54,438 rooms, which represented 31.8% of the market's existing supply, followed by Saudi Arabia (41,207 rooms, 40.5% of existing supply).
1. United Arab Emirates: 54,438 rooms (31.8%)
2. Saudi Arabia: 41,207 rooms (40.5%)
3. Qatar: 14,518 rooms (53.5%)
4. Oman: 4,589 rooms (24.1%)
5. Egypt: 4,100 rooms (2.4%)
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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. For more information, please visit str.com.