PORTSMOUTH, NH--Europe's Construction Pipeline is at 790 projects/125,296 rooms at the end of Q1. The United Kingdom has the largest country Pipeline in Europe, with 26% of its total projects.
At 208 projects/27,607, the UK Pipeline has grown 1% by projects, but decreased 5% by rooms year-over-year (YoY). All other European countries combined have seen a 9% increase in projects and 3% increase by rooms YoY.
The rapid recessionary declines in Europe's Construction Pipeline have abated. The Pipeline is in a lower bottoming channel for a fifth consecutive quarter and will likely remain there until the sovereign debt crisis eases, national economies show a more vigorous recovery, improvement in hotel operations accelerates, and construction financing becomes more available. In the meantime, over half of
Total Pipeline projects and rooms are now Under Construction, with many set to exit the Pipeline as New Supply during the next two years. This will continue to draw down Total Pipeline counts, as difficulties in securing construction financing will keep New Project Announcements at low levels.
For a complete copy of the report, please contact:
Jennifer Robertson
Marketing Manager
Lodging Econometrics
500 Market Street, Suite 13
Portsmouth, NH 03801, USA
Ph: +1 603-431-8740 ext. 19
Fax: +1 603-431-4418
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