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STR Global reports Asia/Pacific hotel pipeline for February 2011
The Asia/Pacific hotel development pipeline comprises 1,096 hotels totalling 274,648 rooms, according to the February STR Global Construction Pipeline Report.
“Three of the top five markets in Asia/Pacific with the most rooms under construction are based in China and India”, said Elizabeth Randall, managing director of STR Global. “These countries are expected to continue to attract the most development activities going forward”.
Among the key markets in the region, Shanghai, China, reported the largest number of rooms in the In Construction phase with 9,050 rooms. Other markets to report a significant number of rooms in the In Construction phase include: New Delhi, India (5,804 rooms); Bangkok, Thailand (4,510 rooms); Beijing, China (3,682 rooms); and Kuala Lumpur, Malaysia (2,998 rooms).
STR reports Caribbean/Mexico hotel pipeline for February 2011
The Caribbean/Mexico hotel development pipeline comprises 131 hotels totaling 19,136 rooms, according to the February 2011 STR Construction Pipeline Report.
“Not surprisingly, with 6,418 rooms under construction, Mexico has the highest number of rooms in the In Construction phase of the Caribbean/Mexico pipeline,” said Lana Yoshii, VP of content management at STR. “However, because they have the most number of open rooms, they are only expecting a 2.2-percent increase in supply when these projects open. The Bahamas has the second highest volume of rooms in construction (1,424 rooms) but will see an 8.7-percent increase in existing supply when those rooms open.”
Among the countries in the region, Mexico reported the largest number of rooms in the In Construction phase with 6,418 rooms. Other countries to report a significant number of rooms under construction include: the Bahamas (1,424 rooms); the Dominican Republic (1,280 rooms); Aruba (320 rooms); and St. Lucia (259 rooms).
STR Global reports Central/South America hotel pipeline for February 2011
The Central/South America hotel development pipeline comprises 144 hotels totalling 22,438 rooms, according to the February 2011 STR Global Construction Pipeline Report.
Among the Chain Scale segments, the Upscale segment accounted for the largest portion of rooms in the total active pipeline with 29.1 percent (6,523 rooms), followed by the Upper Upscale segment (21.0 percent with 4,708 rooms) and the Midscale segment (20.8 percent with 4,670 rooms). The Economy segment reported the smallest portion of rooms in the total active pipeline with 1.5 percent and 340 rooms.
STR Global reports Europe hotel pipeline for February 2011
The Europe hotel development pipeline comprises 734 hotels totalling 122,423 rooms, according to the February 2011 STR Global Construction Pipeline Report.
“Russia and two of the CIS states have the largest expected room growth compared to the existing supply”, said Elizabeth Randall, managing director of STR Global. “Russia’s secondary markets have become a focus for hotel development, as international players move farther afield than Moscow and St Petersburg. Azerbaijan and Kazakhstan have only recently seen more interest and hotel development activities; their existing supply is more limited compared to other hotel markets, which gives more room for growth for new projects in these countries”.
Among the countries in the region, Azerbaijan will report the largest increase in existing supply (41.2 percent) if every one of the 1,196 additional rooms in its total active pipeline open. Other countries to expect significant increases in existing supply include: Russia (+19.3 percent with 14,817 rooms); Kazakhstan (+13.9 percent with 684 rooms); United Kingdom (+7.7 percent with 36,969 rooms); and Poland (+5.3 percent with 2,652 rooms).
STR Global reports Middle East/Africa hotel pipeline for February 2011
The Middle East/Africa hotel development pipeline comprises 432 hotels totalling 118,454 rooms, according to the February 2011 STR Global Construction Pipeline Report.
“The main activity of hotel development in the region takes places across the United Arab Emirates, Saudi Arabia and Oman”, said Elizabeth Randall, managing director of STR Global. “Selected markets will see more than half of their current supply entering the markets over the coming years. Whilst the long-term prospects for the region are good, the new supply will create more challenging market conditions for the short-term. We see a more diverse offering coming into the markets, which were so far dominated by the upscale to luxury properties”.
Among the markets in the region, Abu Dhabi, UAE, will report the largest increase in supply (89.4 percent) if every one of the 13,405 additional rooms in its total active pipeline open. Other markets to expect significant increases in existing supply include: Riyadh, Saudi Arabia (77.2 percent with 4,831 rooms in its total active pipeline); Jeddah, Saudi Arabia (50.5 percent with 3,033 rooms); Muscat, Oman (49.5 percent with 1,931 rooms); and Dubai, UAE (49.2 percent with 28,474 rooms).
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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