Among Europe’s key markets, London has reported the most rooms in construction with 5,400 rooms in 32 hotels, according to analytics specialist STR.
Three other markets reported more than 2,000 rooms in construction: Istanbul (4,192 rooms in 24 hotels); Moscow (3,632 rooms in 15 hotels); and Berlin (2,467 rooms in seven hotels).
STR’s July 2016 pipeline report shows 148,483 rooms in 966 projects under contract overall in Europe, representing a 13% increase compared with July 2015, with 63,353 rooms in 424 projects in construction for the month – an 18.4% increase in year-over-year comparisons.
Under contract data includes projects in the in construction, final planning and planning stages but not in the unconfirmed stage.
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