Luxury hotels on the rise in MEA: STR Global
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The recent STR Global Construction Pipeline Report for January 2015 disclosed that there are 633 hotels totalling 147,953 rooms under contract in the Middle East/Africa region.
Among chain scale segments, the upper upscale segment accounted for largest portion of rooms in the under contract (36%) with 53,257 rooms. Two other segments each accounted for more than 15% of rooms in under contract: the upscale segment (20.8% with 30,703 rooms) and luxury segment (18.8% with 27,820 rooms).
The upper upscale segment made up the largest portion of rooms under construction (40.3% with 29,770 rooms, followed by the luxury segment (22.2% with 16,448 rooms) and the upscale segment (19.9% with 14,699 rooms).
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