Infrastructure

STR: EMEA, US, Central/South America, Caribbean/Mexico hotel pipeline for November 2016

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STR’s November 2016 Pipeline Report shows 156,368 rooms in 1,017 projects Under Contract in Europe. The total represents a 13.3% increase in rooms Under Contract compared with November 2015.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

Europe reported 68,496 rooms in 439 projects In Construction for the month. Based on number of rooms, that is a 23.1% increase in year-over-year comparisons.

Among the countries in the region, the United Kingdom reported the most rooms In Construction with 17,551 rooms in 149 hotels. Three additional countries reported more than 5,000 rooms In Construction: Germany (11,418 rooms in 54 hotels), Turkey (8,369 rooms in 50 hotels) and Russia (7,452 rooms in 38 hotels).

Middle East and Africa hotel pipeline
STR’s November 2016 Pipeline Report shows 159,922 rooms in 560 projects Under Contract in the Middle East and 58,878 rooms in 316 projects Under Contract in Africa.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The Under Contract total in the Middle East represents a 10.8% increase in rooms Under Contract compared with November 2015. Specifically in the In Construction phase, the Middle East reported 85,448 rooms in 267 hotels. Based on number of rooms, that is a 3.6% increase in year-over-year comparisons.

The Under Contract total in Africa represents a 10.9% increase in rooms Under Contract compared with November 2015. Specifically in the In Construction phase, Africa reported 30,043 rooms in 165 hotels. Based on number of rooms, that is a 10.9% increase in year-over-year comparisons.

Among the countries in the Middle East and Africa, Saudi Arabia reported the most rooms In Construction with 37,864 rooms in 83 hotels. United Arab Emirates followed with 26,889 rooms in 97 hotels. Two other countries each reported more than 5,000 rooms In Construction: Qatar (8,748 rooms in 36 hotels) and Egypt (5,645 rooms in 16 hotels).

United States hotel pipeline
STR’s November 2016 Pipeline Report shows 554,569 rooms in 4,570 projects Under Contract in the United States. The total represents a 21.2% increase in the number of rooms Under Contract compared with November 2015.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages, but does not include projects in the Unconfirmed stage.

In the In Construction stage, the U.S. reported 182,929 rooms in 1,394 projects. Based on the number of rooms, that is a 29.4% increase in year-over-year comparisons. A large percentage of U.S. hotel construction activity (47.1%) continues in the Top 26 Markets by existing supply.

“Occupancy declines have been more consistent among the larger markets, and that is largely due to new supply that has entered those markets,” said Bobby Bowers, STR’s senior VP of operations. “Projects in the pipeline are likely to further affect occupancy levels and place more pressure on hoteliers’ pricing power.”

Among those Top 26 Markets, New York, New York, reported the most rooms Under Contract (29,147 rooms) and most rooms In Construction (15,276 rooms). Two additional markets each reported more than 15,000 rooms Under Contract for the month: Houston, Texas (18,020 rooms), and Dallas, Texas (16,571 rooms).

Four markets in addition to New York each reported more than 5,000 rooms In Construction: Dallas (6,582 rooms); Houston (5,608 rooms); Los Angeles/Long Beach, California (5,537 rooms); and Seattle, Washington (5,104 rooms).

“Three markets -New York (13.3%), Seattle (11.8%) and Denver (10.0%)- show a construction pipeline that represents more than 10% of their existing supply,” Bowers said.

Four markets each reported fewer than 1,000 rooms In Construction: St. Louis, Missouri-Illinois (806 rooms); Minneapolis/St. Paul, Minnesota, Wisconsin (763 rooms); Norfolk/Virginia Beach, Virginia (456 rooms); and Oahu Island, Hawaii (410 rooms).

Top 10 U.S. Markets (In Construction phase)

Market Existing Supply In Construction
November 2016
In Construction
November 2015
In Construction
YOY % change
New York, NY 114,961 15,276 13,301 +14.8%
Dallas, TX 81,361 6,582 4,361 +50.9%
Houston, TX 83,814 5,608 6,169 -9.1%
Los Angeles/Long Beach, CA 98,650 5,537 4,240 +30.6%
Seattle, WA 43,166 5,104 1,978 +158.0%
Denver, CO 44,680 4,469 1,787 +150.1%
Las Vegas, NV 162,291 3,950 3,905 +1.2%
Washington, DC-MD-VA 109,734 3,518 3,949 -10.9%
Nashville, TN 39,669 3,378 1,975 +71.0%
Miami/Hialeah, FL 54,447 3,199 3,430 -6.7%

Caribbean/Mexico hotel pipeline
STR’s November 2016 Pipeline Report shows 31,782 rooms in 191 projects Under Contract in the Caribbean/Mexico region. The total represents a 13.6% increase in rooms Under Contract compared with November 2015.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The region reported 13,081 rooms in 87 projects In Construction for the month. Based on number of rooms, that is a 9.1% increase in year-over-year comparisons. 

Among the countries in the region, Mexico reported the most rooms In Construction with 9,314 rooms in 67 hotels. Four additional countries each reported more than 500 rooms In Construction: Barbados (636 rooms in two hotels), Jamaica (573 rooms in two hotels), St. Lucia (529 rooms in three hotels) and Cuba (516 rooms in one hotel).

Central/South America hotel pipeline 
STR’s November 2016 Pipeline Report shows 64,259 rooms in 410 projects Under Contract in the Central/South America region. The total represents a 4.8% decrease in rooms Under Contract compared with November 2015.

Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

The region reported 27,976 rooms in 172 projects In Construction for the month. Based on number of rooms, that is a 10.9% decrease in year-over-year comparisons.

Among the countries in the region, Brazil reported the most rooms In Construction with 16,462 rooms in 94 hotels. Two additional countries each reported more than 1,000 rooms In Construction: Colombia (3,753 rooms in 21 hotels) and Argentina (1,206 rooms in 10 hotels).

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