Asia Pacific Hotel Development Pipeline Under Contract Up 3.8 Percent YOY for April 2017
The Asia/Pacific region reported 270,115 rooms in 1,185 hotel projects in construction in April, according to STR’s pipeline report. The total number of rooms under construction represents a 6.5% year-over-year increase.
STR’s April 2017 Pipeline Report shows 608,581 rooms in 2,753 hotel projects Under Contract in the Asia Pacific region. The total represents a 3.8% increase in rooms Under Contract compared with April 2016.
Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.
The Asia Pacific region reported 270,115 rooms in 1,185 projects In Construction for the month. Based on number of rooms, that is a 6.5% increase in year-over-year comparisons.
Four key markets in the region reported more than 5,000 rooms In Construction:
- Shanghai, China (10,325 rooms in 42 projects)
- Jakarta, Indonesia (5,552 rooms in 23 projects)
- Bali, Indonesia (5,225 rooms in 29 projects)
- Chengdu, China (5,082 rooms in 21 projects)
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Categories: Trends