Luxury hotels set the pace for growth across MEA: STR Global
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STR Global’s Construction Pipeline report for October 2014 reported that there were 646 hotels under contract totalling 151,579 rooms for the Middle East and Africa region. This report focuses on projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.
In the chain scale segments, the upper upscale segment accounted for largest portion of rooms under contract which amounted to 36.4% in the region with 55,172 rooms. The other three segments each accounted for more than 10% of rooms under contract – The luxury segment at 18.9% with 28,628 rooms, upscale segment with 18.4% with 27,833 rooms and the unaffiliated segment at 14.1% with 21,327 rooms.
The upper upscale segment accounted for the largest portion of rooms in construction at 37.4% with 27,503 rooms, followed by the luxury segment at 21.7% with 15,952 rooms. Finally, the upscale segment was at 19.6% with 14,429 rooms.
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