London tops European hotel development pipeline

London has reported the most hotel rooms under construction out of Europe’s key cities, according to new figures from hotel data and benchmarking firm STR.

As of July 2015, the capital had 5,400 rooms currently under construction in 32 hotels. Only three other markets reported more than 2,000 rooms; Istanbul, Turkey (4,192 rooms in 24 hotels); Moscow, Russia (3,632 rooms in 15 hotels); and Berlin, Germany (2,467 rooms in seven hotels).

In total, Europe reported 63,353 rooms in 424 projects are in construction during the month – an 18.4% increase in year-over-year comparisons.

Meanwhile, the report shows 148,143 rooms in 96 projects under contract – projects in the in construction, final planning and planning stages – in Europe.