According to STR statistics from September 2022, the Middle East and Africa were the only world regions with a rise in total hotel pipeline activity at the end of the third quarter of 2022.
STR, which delivers premium data benchmarking, analytics, and market insights to the worldwide hotel sector, provided the following September 2022 statistics (% changes from September 2021):
Middle East & Africa: In Construction: 130,956 rooms (-3.2%); Final planning: 38,147 rooms (-5.9%); Planning: 74,510 rooms (+18.9%); Total number of contracts signed: 243,613 (+2.2%)
The Middle East accounts for the majority of pipeline activities in the area. Construction activity is led by Saudi Arabia (39,070) and the United Arab Emirates (32,373).
Europe: In Construction: 197,884 rooms (-14.1%); Final planning: 144,277 rooms (-16.1%); Planning: 162,896 rooms (+9.7%); Total contract value: 505,057 (-8%).
Germany (38,676) and the United Kingdom (29,471) top Europe in total building rooms.
Asia Pacific: In Construction: 485,250 rooms (+1.5%); Final planning: 131,427 rooms (-26.3%); Planning: 287,572 (-0.2%); Total contract rooms: 904,249 (-4.3%).
China has the most construction rooms in the area (311,859), followed by Vietnam (28,692).
Americas: In Construction: 207,585 rooms (-9.2%); Final planning: 203,069 rooms (-17.9%); Planning: 329,789 rooms (+9.4%); Total number of contracts: 740,443 (down 4.8%).
The United States has the bulk of rooms under development in the area. Following the United States, Mexico (14,077) and Canada (7,126) have the most rooms under construction in the area.
Gauging Sentiment and Prospects in the Hospitality Industry – A New Study by NYU SPS Jonathan M. Tisch Center of Hospitality & Boston Consulting Group
New Data Reveals Optimal Booking Times for Summer Travel, Empowering Travelers to Save
Shocking Allegations: Las Vegas Hotel Housekeeper Faces Accusations of Stealing Jewelry Valued at $1 Million