63 Dubai hotels under-contract in December

The total number of hotels under contract in Dubai reached 63 as the hospitality sector showed an increase of 51.5% by the end of 2015.

The total number of hotels under contract in Dubai reached 63, with 20,260 rooms, in December 2015, according to a STR Global Pipeline Report.

The report indicated that there are 514 hotels totalling 147,746 rooms under contract in the Middle East and 319 hotels.

STR Global explained that under-contract data includes projects in the construction, final planning and planning stages, but does not include projects in the unconfirmed stage.

New hotel projects in the region recorded a growth of 38.7% in December last year, compared with the same period of 2014 and an increase of 51.5% by the end of 2015 compared with 2014.

The UAE’s hotel sector accounted for 25% of hotel rooms under contract in the Middle East and amounted to 91,510 rooms in approximately 351 hotels.