Recently released STR’s 2016 Pipeline Report shows that there are currently nearly 156,000 rooms in 552 projects under contract in the Middle East. Africa is not far out with and 56,000 rooms in 295 projects. This data shows a massive 20 percent increase in general region’s pipeline when compared with the previous year.
Figures revealed that the under contract total in the Middle East represented an 18.8 percent increase compared with 2015, specifically in the in construction phase with the Middle East reporting just over 83,000 rooms in nearly 300 new hotels. This is accounted for a 12.2 percent increase year over year.
Africa, however, represents even bigger increase with nearly 24 percent increase compared to the previous year. There are currently 155 hotels being contracted in this region which will provide almost 30,000 new rooms. Percentagewise is it exactly 21.3 percent more than tin the previous year.
The STR’s report also highlighted the main key markets in the Middle East and Africa. The top spot in this ranking takes Makkah in Saudi Arabia with 21,835 rooms, and 13 new hotels. Dubai has been classified on the second position with 20,882 rooms, but impressive 67 hotels. Doha has been placed on the third position with 6,830 rooms in 30 hotels, followed by and Riyadh in Saudi Arabia with 6,657 rooms in 30 hotels.