Istanbul has moved ahead of London as the busiest city in Europe for hotel construction, while the overall trend for new developments is down by 9.4% year-on-year.
There are currently 804 hotels, comprising 131,389 rooms under contract across the continent, according to the July 2015 STR Global Construction Pipeline Report. The under contract data includes projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.
Greater London, with 3,759 rooms in 22 hotels in the pipeline, follows Istanbul, which has 4,584 rooms in 23 hotels under construction.
Other markets reporting more than 2,000 rooms under construction include Moscow, Russia (3,071 rooms in 13 hotels) and Greater Amsterdam, Netherlands (2,346 rooms in eight hotels).
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