STR releases March MEA hotel pipeline findings
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STR Global has released its Middle East and Africa hotel pipeline report, which show more than 429 hotel properties totalling 118,338 rooms remain under development in the region.Year-to-date, 17 properties comprising 4,097 rooms have opened in the region.Overall in 2011, there are 164 more properties comprising 39,682 rooms expected to open, which would amount to a 6.6% increase in room supply for the remainder of 2011.During 2012, the region is expecting 137 projects comprising 35,401 rooms to open. During 2013, 67 projects comprising 20,310 rooms are expected to open.Among the Chain Scale segments, the Upper Upscale segment is expected to open the largest number of rooms during the remainder of 2011 with 39 projects comprising 11,523 rooms, followed by the Unaffiliated segment (47 projects comprising 9,716 rooms) and the Upscale segment (29 projects comprising 7,343 rooms).
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