Europe's Hotel Market Added 41,982 New Rooms in 2012
According to STR Global, the Europe hotel industry opened 332 new hotels with 41,982 rooms in 2012.
Among the Chain Scale segments, the Economy segment opened the most new rooms with 11,064 rooms in 95 properties. Three other segments opened more than 5,000 new rooms in 2012: the Upper Midscale segment (67 hotels with 8,869 rooms); the Upscale segment (39 hotels with 6,137 rooms); and the Midscale segment (52 hotels with 5,537 rooms). The Luxury segment added the smallest number of new rooms in 2012 with 2,276 rooms in 14 hotels.
The Europe hotel development pipeline comprises 844 hotels totalling 141,273 rooms, according to the December 2012 STR Global Construction Pipeline Report.