MEA hotel construction remains stable - STR

Mubasher: More than 427 projects accounting for 123,742 rooms are under construction in the Middle East and 138 projects and 25,986 rooms in construction in Africa, according to STR’s July 2019 hotel pipeline data.

The Middle East total represented a 2.1% year-on-year increase in the number of rooms in the final phase of the development pipeline.

The region reported an additional 30,240 rooms in the final planning stage and 45,948 rooms in planning.

STR, which provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors, noted that the Africa room construction total was down 1.8% year-on-year.

Moreover, Africa showed 17,485 rooms in the final planning and 23,954 rooms in planning.

Four countries across MEA showed more than 4,000 rooms under construction, the report said.

The UAE led with 54,438 rooms, which represented 31.8% of the market's existing supply, followed by Saudi Arabia with 41,207 rooms.

Mubasher Contribution Time: 13-Aug-2019 09:19 (GMT)
Mubasher Last Update Time: 13-Aug-2019 09:19 (GMT)