There are 1,152 hotels totalling 167,251 rooms Under Contract in Europe, according to the January 2016 STR Global Pipeline Report.
This represents a 15.8% increase in rooms Under Contract compared with January 2015 and a 6.3% year-over-year increase in rooms under construction.
Among the region’s key markets, Greater London reported the most rooms under construction with 4,792 rooms in 33 hotels. Three other markets reported more than 2,000 rooms under construction: Istanbul, Turkey (4,679 rooms in 24 hotels); Moscow, Russia (3,830 rooms in 16 hotels); and Greater Berlin, Germany (2,330 rooms in six hotels).
The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The region reported 62,205 rooms in 460 hotels under construction for the month.
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