Just 39% of hotel projects in the Gulf that were in the pipeline six months ago are still on target to open on time or with a slight delay, according to research by TRI Hospitality Consulting. Another 33% have been delayed by more than six months, while 13% are on hold, and 15% have been cancelled, the research said. Despite the delays, there are still an estimated 86,000 confirmed hotel rooms in the supply pipeline for the Gulf to 2011.