STR’s October 2016 hotel Pipeline Report has revealed that there is 158,714 rooms in 554 projects under contract in the Middle East and 57,740 rooms in 310 projects under contract in Africa.
The under contract total in the Middle East represents an 11.7% increase in rooms under contract compared with October 2015. Specifically in the construction phase, the Middle East reported 84,477 rooms in 260 hotels – representing a 9.1 % Y-o-Y increase.
The report also highlighted Africa’s stellar hospitality potential, as the under contract total peaked with a 7.8% increase in rooms under contract compared to October 2015. Figures also reported that Africa currently has 30,032 rooms in 164 hotels in construction – an 8.3% increase in year-over-year comparisons.
Among key markets in the Middle East and Africa, Makkah in Saudi Arabia reported the most rooms in construction with 24,090 rooms in 15 projects underway. Dubai closely followed, reporting 19,687 rooms in 67 hotels in construction, namely the only other market to report more than 10,000 rooms In Construction.
Hotel News ME’s annual publication, The Pipeline Yearbook will return for a 2017 edition. Featuring exclusive hotel pipeline news, a guide to key territories, insight from industry leaders and 30 leading hospitality suppliers you should know, The Pipeline Yearbook 2017 will be distributed with the January issue of Hotel News ME.
For advertising opportunities or to become one of ‘The 30 suppliers you should know’, please contact: Diarmuid O’Malley, Group Publishing Director: firstname.lastname@example.org or Nick Clowes, Senior Sales Manager, Nick Clowes: email@example.com
For all editorial opportunities, please contact: Sophia Soltani, Editor of Hotel News ME: firstname.lastname@example.org
The Pipeline Yearbook 2016 is free to download and view online click here.