STR’s July 2017 Pipeline Report shows 178,105 rooms in 1,167 hotel projects Under Contract in Europe. The total represents a 20.0% increase in rooms Under Contract compared with July 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
Europe reported 77,280 rooms in 499 projects In Construction for the month. Based on number of rooms, that is a 22.0% increase in year-over-year comparisons.
Five key European markets reported more than 2,000 rooms In Construction:
- Istanbul, Turkey (4,497 rooms in 24 projects)
- London, England (4,300 rooms in 27 projects)
- Moscow, Russia (3,602 rooms in 16 projects)
- Munich, Germany (2,897 rooms in 13 projects)
- Amsterdam, The Netherlands (2,166 rooms in 12 projects)
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