New data from STR shows 163,648 rooms in 1,038 hotel projects Under Contract in Europe, representing a 2.2% decrease in rooms Under Contract compared with January 2016.
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 71,365 rooms in 441 projects In Construction for the month. Based on number of rooms, that is a 14.7% increase in year-over-year comparisons.
Five key markets reported more than 2,000 rooms In Construction:
London, England (6,203 rooms in 34 projects)
Istanbul, Turkey (4,357 rooms in 22 projects)
Moscow, Russia (3,460 rooms in 15 projects)
Amsterdam, The Netherlands (2,808 rooms in 13 projects)
Munich, Germany (2,524 rooms in 11 projects)
