Around 573 new hotels to be built in Middle East/Africa region, report says
There are 573 hotels in the development pipeline in the Middle East/Africa region, according to a STR Global Construction Pipeline Report.
The new hotels will provide a total of 137,193 rooms, it said.
The data includes projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.
In the remainder of the year, 125 hotels with 27,775 rooms are expected to open. The Unaffiliated segment expects to add the most new rooms (7,803 rooms in 30 hotels), followed by the Upper Upscale segment (6,559 rooms in 26 hotels) and the Luxury segment (5,980 rooms in 25 hotels), it said.
In 2015, 130 hotels with 32,142 rooms are projected to open. The most rooms are expected to be added in the Upper Upscale segment (12,507 rooms in 42 hotels), followed by the Upscale segment (7,689 rooms in 36 hotels) and the Luxury segment (4,575 rooms in 21 hotels).
As of February, there were 16,627 rooms under construction in the UAE, according to STR Global’s construction pipeline report for the month, said a Gulf News report.
It said Dubai currently has a stock of 612 hotels with 85,000 rooms and by the end of 2016, the emirate is expected to see an additional 140 hotels and 30,000 rooms.
Meanwhile, preliminary data for Dubai shows healthy increases in both supply (+7.4 per cent) and demand (+6.2 per cent), said STR Global. The market’s RevPAR was up 2.8 per cent to Dh950.68 ($258.83).
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